Ripple versus SEC: a decisive battle for crypto on June 13


Victory or defeat? – It is now more than two and a half years (December 2020) thatjudicial trench warfare got involved between Rippleissuing company of the XRPand the financial police of the Securities and Exchange Commission (DRY). The latter accuse the crypto-company of having illegally issued a security (securities): the XRP token therefore. New documents, eagerly awaited in this case, will be revealed next week. The future of the crypto sector may depend on it.

SEC must release William Hinman’s internal messages

less than a month ago, Ripple won a first important fight against the Securities and Exchange Commissionseeing the judge in charge of the case, Analisa Torres, prove him right. Indeed, contrary to the request of the company issuing XRP, the SEC did not want to communicate the positions of William Hinman on the status of securities or not cryptocurrencies.

The Securities Commission must therefore disclose “unredacted copies of all emails” of this old director from the SEC, no later than Tuesday June 13 2023.

If these internal documents are so valuable for the defense of Ripple, it is because William Hinman (who held his position under the mandate of Donald Trump, from 2017 to 2020) had already very clearly and publicly stated the following thing:

“(…) Ethers, the Ethereum network and its decentralized structure, current offers and sales of ethers are not securities transactions. »

Excerpt from Interview with former SEC Director William Hinman, published June 14, 2018

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The US regulator would like to erase the past so as not to lose to Ripple

A fact extremely curious just happened on the website of the Securities and Exchange Commission, precisely in connection with this obligation to produce these documents. The services of the SEC suddenly decided, a few days before this deadline, to delete the biography by William Hinman!

Very strange timing. The Twitter account @Leerzeit shows us (below) the before after of this rather impromptu dry cleaning. Is it because this director was reported as a specialist for characterize fundraising transactions? Or that it gave recommendations/guidance on the “new and existing rules” from the SEC? Or just for decrease its importance/role?

Before/after the SEC purge – Twitter account @Leerzeit

As the SEC suddenly just indict 61 crypto projects of being securitiesin its attack on Binancehis lawsuit against Ripple takes a any other dimension. If the defence, supported by the words of ex-director William Hinman, is sufficient to to prevent the classification of XRP as a security, mad regulators may subsequently have the greatest difficulty in proving it for other cryptocurrencies. We cross fingers !

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