SEC Emails Reveal: Hinman Wasn’t Only Official Deliberating ETH Security
In 2022, the SEC stated that Hinman’s views on Ether being a security were not those of the SEC, while emails show the contrary.
Key Takeaways
- After giving the green light to use Bill Hinman’s speech in court, Ripple revealed SEC emails surrounding Hinman’s speech.
- The deliberation about ETH being a security suggest that other SEC officials were used as guidance.
Recently released email exchanges from 2018 reveal that multiple U.S. Securities and Exchange Commission (SEC) officials were in deliberation over Ether’s status as a security. These emails were published by Ripple in its legal battle with the SEC, which accuses Ripple of illegally selling XRP for more than seven years as unregistered securities.
Exhibit 210 from Ripple vs. SEC
The communications shared indicate that there were internal debates within the SEC regarding the clarity of a speech given by then-director of corporation finance William Hinman in 2018. The speech suggested that Ether might not be viewed as a security:
4/Although Hinman claimed that the speech was his personal view, he and the SEC touted it as guidance. Then SEC Chair Jay Clayton publicly pointed to it. Despite the SEC repeatedly flip-flopping on the significance of the speech in litigation, it remains on the agency’s website.
— Stuart Alderoty (@s_alderoty) June 13, 2023
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