Select Page

Ripple plans to question ex-SEC director despite regulator’s pushback

Ripple plans to question ex-SEC director despite regulator’s pushback
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

William Hinman worked at the US Securities and Exchange between 2017 and 2020, with one of his high-profile statements at that time being that Bitcoin and Ethereum were not securities.

Lawyers representing Ripple Labs and two of the company’s top executives have told a judge that they plan to have William Hinman testify, according to new court documents.

According to Ripple’s legal team, the former SEC director’s testimony is ‘critical’ to their clients’ defense against the US regulators’ case. The court filing shows that Ripple will depose Mr. Hinman on 19 July, even as the SEC holds that this should not happen.

“Mr. Hinman’s deposition has been re-noticed for July 19, 2021, to accommodate his availability,” Michael Kellog said in a letter addressed to US Magistrate Judge Sarah Netburn.

US-based defense attorney and ex-federal prosecutor James Filan suggests that Ripple’s re-notice will only be allowed if Judge Netburn denies the agency’s “Motion to Quash.”

In short, the judge has to agree with Ripple about Hinman’s importance to their case, thus allowing his deposition.

But the securities agency is opposed to this, with a motion to quash Ripple’s subpoena of Hinman before the judge.

According to the regulator, Ripple must prove “exceptional circumstances” for the court to allow the deposition. In its view, Ripple Labs, Brad Garlinghouse, and Chris Larsen can choose to depose another party, not someone as high-profile as Hinman. In the agency’s view, his position meant the former director of SEC’s Corporation Finance unit was privy to internal and “privileged” information.

Ripple has countered that argument, pointing out that the ex-director’s position at the regulator was not as “high-ranking” as the SEC claims. It wants Hinman to testify, saying that his responses will shed light on how the agency communicated its views about cryptocurrencies, including XRP.

Since the beginning, Ripple has maintained that XRP is not a security as claimed by the regulator.

XRP, which remains one of the top 10 cryptocurrencies by market cap with $29.4 billion, currently trades around $0.63.

The post Ripple plans to question ex-SEC director despite regulator’s pushback appeared first on Coin Journal.


Source: CoinJournal: Home


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own here


Select a Sub Category


All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber