In the case process between Ripple and the US Securities and Exchange Commission (SEC), which has been going on since December 2020, the new important date was July 15.
According to Ripple lawyer James K. Filan, the court decided to hold a conference via telephone on Thursday, July 15. Defendant, plaintiff, and the tribunal will discuss the rejection request from the SEC following Ripple’s request to subpoena William Hinman, a former top SEC official.
Ripple had wanted to question Hinman last month by having him testify under oath. The SEC also opposed this request, arguing that it was against the law to summon Hinman to testify. The judge would make the final decision.
The Ripple company suggests that the former SEC official is someone who can provide first-hand information, whether because of the SEC’s communications with third parties and the agency’s policy on the regulation of cryptocurrencies, or Hinman’s resounding 2018 speech on the subject.
In December, the SEC filed a lawsuit against Ripple and its two executives on charges of selling $1.3 billion in unregistered securities. While the XRP price fell sharply after the lawsuit, this effect on the price continued during the period when all cryptocurrencies were rising.
Recently, there was a move from the SEC against Ripple in the Case
Ladan Stewart, an SEC lawyer, wrote in his letter regarding Ripple’s response to a file that he submitted to the court, and used the following statements to the case judge Netburn about Hinman being cited as a witness:
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“The defendant wants director Hinman to come and be subjected to hours of questioning, even though the SEC attorney has repeatedly appealed and instructed not to answer questions. The current situation does not provide for the special and exceptional circumstances necessary to bring a senior SEC employee to trial.”