The U.S SEC vs Ripple dispute has proven to be an important lawsuit for the Cryptocurrency world. As its verdict will eventually define and rectify the commission’s outlook toward the digital assets.
But the SEC’s recent attempts to block the release of documents related to a controversial speech by a former director has drawn widespread scrutiny. The speech in question was by Bill Hinman, where he declared Ethereum is not a security.
The implications of the speech, along with documents surrounding it are posited by Ripple as a key component to its case with the SEC.
Hinman alleged to have serious conflict of interest
The deposition mentions that Hinman sent the speech for a review to SEC Chairman Jay Clayton among other staff. On being asked whether Hinman sent it to any other person or entity.
The Hinman replied that ‘He didn’t feel like the input was going to be worth the extra delay’.
