Hinman speech contained “made-up analysis”, Ripple’s Chief legal officer says

2023-6-14 16:58

Former SEC official William Hinman delivered his speech in June 2018, commenting that Bitcoin and Ether were not securities. SEC sued Ripple Labs in December 2020, alleging that the company illegally sold unregistered securities in the form of its XRP token. Ripple attorney Stuart Alderoty says the documents contained “made-up analysis.”

Ripple news today is that the US-based company continues to edge closer to a verdict in its battle against the US Securities and Exchange Commission (SEC). 

This follows Tuesday’s release of documents related to a speech by former SEC official William Hinman, which was delivered in June 2018. 

The price of XRP, the native Ripple cryptocurrency that the SEC alleges is a security in a lawsuit filed in 2020, rose more than 8% to above $0.55.

Ripple lawyer comments on release of Hinman emails

The document’s release to the public means Hinman’s views about cryptocurrencies deemed as securities. 

Specifically, the former SEC Division of Corporation Finance official highlighted in his 2018 speech that Bitcoin (BTC) and Ethereum (ETH) were not securities.

Commenting on the release of the files, Ripple’s Chief Legal Officer Stuart Alderoty tweeted:

“It’s been 5 years since Bill Hinman gave his infamous speech – and through the SEC’s lawsuit against @Ripple (and 7 court orders), we can finally share what happened behind the scenes through the now public emails / drafts of the speech.”

On Hinman’s comments, Ripple’s legal chief stated the ex-SEC official ignored warnings about his remarks and that he included “made up analysis with no basis in law.”

“We now can all see Hinman ignored multiple warnings that his speech contained made-up analysis with no basis in law, was divorced from the Howey factors, exposed regulatory gaps, and would create not just confusion, but “greater confusion” in the market,” he added.

“A refresher: Hinman, as Head of the SEC’s Corp Fin, gave a speech in June 2018 declaring that a token is not a security once it becomes “sufficiently decentralized” and he invented factors to consider when making a “sufficiently decentralized” determination.“

It is these statements that are now at the center of Ripple’s defense, with the company having maintained since December 2020 that XRP is not a security. 

The belief that the SEC is losing this case is the reason the community’s sentiment has become so upbeat in recent weeks.

The post Hinman speech contained “made-up analysis”, Ripple’s Chief legal officer says appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) íà Currencies.ru

$ 0.5038 (-0.34%)
Îáúåì 24H $1.059b
Èçìåíåèÿ 24h: -0.25 %, 7d: -6.79 %
Cåãîäíÿ L: $0.499 - H: $0.5099
Êàïèòàëèçàöèÿ $27.892b Rank 7
Öåíà â ÷àñ íîâîñòè $ 0.5204 (-3.19%)

hinman securities sec ripple speech 2020 alleging

hinman securities → Ðåçóëüòàòîâ: 68


Ôîòî:

Web3 Lawyer Backs Ripple Amid Discovery Of Conversation Between SEC Staff Prior To The Hinman Speech

The legal tussle between Ripple and the Securities and Exchange Commission (SEC) takes a new turn as web3 lawyers and digital asset users scrutinize a new revelation concerning the case.  Pro-XRP lawyer John Deaton has stated that a small footnote that he discovered in Ripple’s brief could play a key role in determining the merits […]

2023-5-27 16:48


Ripple XRP rises 7% after judge denies SEC’s motion to seal Hinman documents

The U.S. Securities and Exchange Commission (SEC) attempt to seal records of internal documents connected to William Hinman’s speech has been denied, according to a May 16 court filing. The motion was denied by Judge Analisa Torres, who ruled that “the Hinman Speech Documents are not protected by the deliberative process privilege because they do […] The post Ripple XRP rises 7% after judge denies SEC’s motion to seal Hinman documents appeared first on CryptoSlate.

2023-5-17 11:00


Ôîòî:

XRP Lawsuit: Judge Accused SEC of Hypocrisy, Orders Release of Hinman’s Documents

The Securities and Exchange Commission’s case against Ripple Labs lingers, and the most recent of events has seen the U.S. regulatory body hit hard by an unfavorable ruling. A judge presiding over the suit has repudiated the SEC’s attorney-client protection claim as a reason not to release documents pertaining to the Hinman speech. Judge Netburn […]

2022-7-22 23:48


Ripple insists on deposing former high-ranking SEC official as part of XRP lawsuit

Ripple Labs, the blockchain company behind the XRP token that is currently locked in a $1. 3 billion legal battle with the United States Securities and Exchange Commission (SEC), has rescheduled the deposition of William Hinman, the SEC’s former director of Division of Corporation Finance, to July 19, according to court filing published last Friday.

2021-7-13 02:01


Many Crypto Experts Think XRP is Not a Security, But What Happens if Ripple’s Coin is Ruled One?

Earlier in June, William Hinman, the Director of the Division of Corporate Finance in the SEC, declared that Ethereum is not a security. The announcement came as a reprieve to crypto investors. Speaking on Ethereum, Hinman noted that it operates on a decentralized network, rather than a typical centralized platform that usually offers securities. For […]

2018-10-30 23:14