Ripple Can Depose Former SEC Official in Lawsuit: Report

A U.S. judge ordered William H. Hinman, the former chief of the commission's corporate finance division, to sit for questioning.

AccessTimeIconJul 16, 2021 at 4:23 a.m. UTC
Updated Sep 14, 2021 at 1:26 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now
  • Ripple can depose the former head of the U.S. Securities and Exchange Commission's corporate finance division about the agency's policy decisions as the company faces an enforcement action, Bloomberg reported on Friday.
  • U.S. Magistrate Judge Sarah Netburn on Thursday ordered William H. Hinman to sit for questioning, saying the case involves "significant" policy decisions in the markets and the public interest is high.
  • The SEC alleged in December 2020 that Ripple Labs had conducted an ongoing and unregistered securities sale via the XRP token closely associated with its brand. 
  • Ripple had sought to force the SEC to disclose why it came to the conclusion that bitcoin and ether were commodities, not securities like XRP.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.