Ripple (XRP) Demands Investigation into Hinman and Speeches

  • Documents belonging to William Hinman revealed some clues about internal discussions among SEC employees at the time and were made public on Tuesday.
  • Ripple’s Chief Legal Officer Stuart Alderoty is calling for a new investigation into Hinman.
  • Alderoty stated that Hinman exceeded his authority and created laws, emphasizing that unelected bureaucrats should faithfully enforce the law within the limits of their authority.

Ripple’s Chief Legal Officer makes a new request following the disclosure of Hinman documents related to the Ripple-SEC case.

Ripple Says Hinman Needs to be Examined

ripple-xrp

Documents belonging to William Hinman, who is the Director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission (SEC), revealed some clues about internal discussions among SEC employees at the time and were made public on Tuesday.

Ripple’s Chief Legal Officer Stuart Alderoty is calling for a new investigation into Hinman. In a series of tweets on Tuesday, Alderoty explained the necessity of uncovering the reasons behind the famous ETH speech and the application of the Howey test.

In that speech in 2018, Hinman stated that Ethereum (ETH) should not be classified as a security because it had “decentralized enough.” This surprised the SEC when it later filed a lawsuit against Ripple, accusing it of selling $1.3 billion worth of XRP tokens as unregistered securities.

Alderoty stated that Hinman exceeded his authority and created laws, emphasizing that unelected bureaucrats should faithfully enforce the law within the limits of their authority.

Alderoty pointed out that by examining behind-the-scenes arrangements and correspondence related to the speech, the former director invented “reasonable factors” while determining what “decentralized enough” meant.

The Hinman Problem

Legal officer Alderoty said that the documents showed that Hinman ignored numerous warnings that the speech contained “unfounded analyses not based on law” and caused “greater confusion” in the cryptocurrency market.

In addition to the examination of Hinman, Alderoty called on the SEC to remove the speech from its website. He also emphasized that the speech should no longer be used in discussions about whether a token is a security.

Ripple’s Chief Legal Officer stated that “despite the SEC’s constant change of opinion on the importance of the speech to the case, it still appears on the agency’s website.”

The news of Ripple (XRP) demanding an investigation into Hinman and the speeches was first published on CoinOtag.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Mt. Gox Bitcoin Payout Nears: Could $9 Billion BTC Distribution Impact Market?

The impending Mt. Gox Bitcoin payout could mark a pivotal moment for the crypto market. Learn how this historic event might impact Bitcoin prices and what it means for the industry.

What Investors Should Expect as BTC Prepares for Major Supply Shift – After Bitcoin Halving

Explore how the Bitcoin halving in 2024 could transform the cryptocurrency landscape and investment strategies.

Bitcoin and Ethereum Price Analysis: Fidelity Report Highlights Impact of Halving and Upgrade

Learn about the key factors influencing Bitcoin and Ethereum prices, including network upgrades, halving events, and insights from Fidelity's in-depth analysis.

Bitcoin Recovers to $66K: Analysts Debate Future After Halving Dip

Get the latest insights on Bitcoin's price action, analyst predictions, and the potential impact of the recent halving event.

Bitcoin Fees Plummet, EigenLayer Yield Crisis Looms, Telegram Boosts Crypto Adoption – Today’s Crypto Roundup

Get the latest on EigenLayer's potential downturn, Bitcoin's record-breaking fees, and how Telegram is fueling the rise of Web3 in this comprehensive crypto news update.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Bitcoin and Ethereum Price Analysis: Fidelity Report Highlights Impact of Halving and Upgrade

Learn about the key factors influencing Bitcoin and Ethereum prices, including network upgrades, halving events, and insights from Fidelity's in-depth analysis.

Litecoin Could Be Preparing for a 20% Rise! Current LTC Analysis

Will Litecoin continue its upward trend? What should LTC investors expect? What are the targets in the current LTC analysis?

Ethereum Might Be Preparing for a Rise! Current ETH Analysis

Ethereum's daily chart has sustained a rise up to $3100 after strong buying in the $2867 - $2950 range. Current ETH Analysis

NEO Launches Uptrend to $25! Current NEO Analysis

Analyzed NEO's 3-hour chart, showing upward trend post $14.80 resistance breakthrough, eyeing $15.18 resistance; potential long positions suggested at $14.636 - $14.448 support range with a stop loss at $13.90, as NEO aims for $25 target amidst over 5% gains.

Is Litecoin Ready to Launch its Rise to $140? Current LTC Analysis

When examining LTC's technical chart, a downward trend is observed in recent days. The nearest support is at the level of 91.86 dollars. The support range between 97.61$ and 99.07$ on the 4-hour chart is significant. For long positions, the support range of 92.41$ - 91.07$ can be expected.
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Mt. Gox Bitcoin Payout Nears: Could $9 Billion BTC Distribution Impact Market?

The impending Mt. Gox Bitcoin payout could mark a pivotal moment for the crypto market. Learn how this historic event might impact Bitcoin prices and what it means for the industry.

What Investors Should Expect as BTC Prepares for Major Supply Shift – After Bitcoin Halving

Explore how the Bitcoin halving in 2024 could transform the cryptocurrency landscape and investment strategies.

Bitcoin Recovers to $66K: Analysts Debate Future After Halving Dip

Get the latest insights on Bitcoin's price action, analyst predictions, and the potential impact of the recent halving event.