Ripple Scores Major Win Against SEC as Judge Authorizes William Hinman's Deposition

Magistrate Judge Sarah Netburn has ordered the deposition of Williman Hinman, former director of the U.S. Securities and Exchange Commission's Division of Corporation Finance. 

As reported by U.Today, the SEC argued that approving Hinman's testimony would set a dangerous precedent that would deter other lawyers from taking public service jobs.     

However, Netburn notes that this is not "a run of the mill" enforcement case, adding that there is huge public interest in its resolution. 

She claims that the deposition is not supposed to affect other departments.    

While Ripple recently scheduled Hinman's deposition for July 19, it will be delayed so that the parties can work out its scope in advance. 

Hinman will likely be asked to clarify whether his 2018 speech about Ethereum not being a security is official or not. 

During the hearing, the SEC mentioned that it hadn't made a decision on Ether's regulatory status at that time. The watchdog is adamant that Hinman's speech contained his personal remarks.