The first information has started to come from the uncensored Hinman documents, which are of great importance for the case between Ripple and the SEC and are expected to be published today.
In the statements in the document, it is observed that former SEC official William Hinman said that Ethereum does not need to be regulated as it is not a security in its current form:
“Attached is the outline of my talk suggesting that we do not need to regulate Ethereum as a security as it is currently presented. This speech is in parentheses and will be used if we all agree.
We will also be meeting with Buterin later this week to confirm our understanding of how the Ethereum Foundation works.”
After the development, there was a very sudden rise in the price of XRP.
Comments from the Trade and Markets Department in response to Hinman’s draft speech:
“…this speech was what the general public/market participants wanted, so we strongly support the speech and the message it conveyed.”
The unedited portions of Ripple’s summary document against the SEC’s request for summary judgment show that senior SEC officials have argued that Hinman’s speech is “the less detailed the better.”
When we, as Bitcoinsistemi.com, examine the content of Hinman documents in depth, we see that Hinman argues that once a crypto money network is decentralized enough, this crypto money can no longer be a security while it was a security before.
Hinman initially cites Bitcoin as non-secure cryptocurrencies. Then, he states that with the current operation of Ethereum and the Ethereum Foundation, ETH also does not seem to be in line with the objectives of the securities laws.
Commenting on the documents, the SEC stated that taking too strong a view on Bitcoin could undermine the SEC’s efforts towards other cryptocurrencies as securities. He also expressed his concerns about the thinking in the section saying that ETH is not a security. He said that if Hinman wanted to make a general statement that ETH is not a security, this would need more internal discussion.
*Not investment advice.
