The new important date in the litigation process between #Ripple and the US Securities and Exchange Commission ( #SEC), which has been going on since December 2020, 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 SEC's refusal request following Ripple's request to subpoena William Hinman, a former top SEC official.
Ripple had wanted to question Hinman by having him testify last month. 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 argues 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.