Alleged Conflicts Of Interest In The SEC vs Ripple Case

Summary

“Pressure is mounting on the Securities and Exchange Commission (SEC) over an alleged conflict of interest involving a member of the agency and Ether, the cryptocurrency of the Ethereum blockchain.

In his speech, he opined that Ether is not a security, stating that “based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions.”

Hinman’s role at the SEC is an important element of a lawsuit brought against the SEC by Ripple (XRP), a cryptocurrency that competes with Ether and was categorized as a security by the SEC.

As virtual currencies become a larger part of our trading marketplace it is important that regulations keep pace in order to foster this technology while maintaining just and equitable standards and ensuring full transparency.”

Source: https://www.breitbart.com/tech/2022/08/25/questions-mount-over-alleged-sec-conflicts-of-interest-in-ripple-crypto-case/