The court grants Ripple a critical discovery because the SEC was unable to dismiss the defendant’s motion.
SEC could not convince the court
During the mobile conference held on July 15, Judge Sara Netburn granted Ripple the much sought-after motion for dismissal. Netburn, who chairs the investigation hearing, acknowledged the specificity of the case when it stated that the agency’s lawsuit did not “Run of the mill enforcement proceedings“And recognized the significant public interest in the case.
Meanwhile, Netburn rejected the SEC’s arguments against Ripple’s motion that the subject did not have any firsthand information relevant to the lawsuit and that Ripple was required to disclose the “exceptional circumstances” under which the deposition was carried out Should .SEC also fail to convince the court that dismissing a former federal official will deter future civil service candidates.
Application is approved
The motion, filed nearly a month ago, asked the court to allow Ripple to dismiss the agency’s former official; William Hinman. Ripple argued that Hinman has inside information about the SEC’s stance on the status of cryptocurrencies, i.e. Bitcoin and Ethereum, and how and how it sets XRP apart from them.
The most important role in his testimony played the speech that Hinman gave in 2018, in which he categorically stated that Ethereum is not a security. Although the SEC argued that it was Hinman’s personal opinion and that she did not represent the agency, it was unable to convince the court. In the judgment, Judge Sara Netburn stated that Hinman’s 2018 speech was on the “central issue” of the hearing.
In addition, Ripple has also filed a “fair announcement motion” against the SEC, and the agency had asked the court not to make a decision on the deposit filing pending decision on the “fair announcement motion” as this would be Ripple’s latter filing could make irrelevant. But even there, the SEC was denied.
After all, the deposit date, which had been changed twice in the past, has now been postponed by one week to July 19.