The SEC have finally released William Hinmans deposition, however it has been heavily redacted from approximately 500 pages down to 90 pages (how convenient for the SEC). Attorney Hogan suspects that the deposition would have contained alot of information that did not bode well for the SEC, which may explain the heavily redacted document.
Having said that what the SEC did release works in Ripple labs favour. In 2020 Ripple representatives meet with SEC regarding regualtory compliance, Hinman's ridiculous 3 word reply to comply with the SEC was to "stop selling XRP". It was only in 2020 that Ripple labs were given Fair Notice, it appears that the deposition only helps SEC from 2020 to current day, and does nothing for SEC case against Ripple prior to Fair Notice.
Furthermore there was another explosive revelation in relation to the SEC staff securities declaration forms. As we all know SEC staff must declare ownership of any securities, what was interesteing is that during the Hinman deposition Ripple Labs legal council questioned if SEC staff had to declare any digital assests as part of the securties form. William Hinman seemed to fumble in his response and in the end basicly said "no", as the SEC Securities form did not have digital assests listed as a security on the from 2013 to 2018.
The hypocrisy is astonishing, the SEC in their own internal dealings never considered digital assessts as a security and here they are now going after Ripple for selling XRP (digital assessts) as a "security", you honestly cant make this stuff up. It seems that the SEC get to dictate what the definition of a security is whenever it suits them, so does that also mean they can change the definition back whenever they feel like it? This is why the Fair Notice argument will be Ripple Labs greatest defense against the SEC.
