Hey guys! This is gonna be quick one but for a while now the Fintech Ripple has been stalled in their lawsuit thanks to the SEC holding a confusing stance on a speech on behalf of Mr. Hinman, aka Bill Hinman who was the former director of the SEC's Corporation Finance Division. He has become a key part of the now long running dispute between the SEC and Ripple Labs over the alleged sale of unregistered securities which the SEC has accused Ripple of.
Basically to put things simply and explain quick, Mr. Hinman in 2018 at a Fintech Week Conference stated that the selling of Ether (ETH) did not constitute "securities transactions". He said this while he was serving at the SEC.
Now however the SEC has been dragging the case heavily instead of admitting what is obvious in their bid to slow the case down. Late last month after requesting to shield documents which relate to Hinman which was denied the SEC followed up with filing a letter motion that quote on quote "asserted" it had attorney-client privilege which relate to internal info about Hinman's 2018 speech. That couldn't be any further from the truth. And not only is it far from the truth but the SEC is doing whatever they can to avoid stating the obvious and keep this dragging.
Hinman's comments are likely to be one of the big deciding factors which work against the SEC's argument being that XRP is a security. To note though is that corruption watchdog Empower Oversight claimed to have documents having been obtained through a Freedom Of Information request that show Hinman having undisclosed direct financial interest with the Simpson Thatcher and Bartlett Law firm, the firm is a member of the Enterprise Ethereum Alliance (EEA) As according to their own site the EEA is; "EEA is a global community of blockchain leaders, adopters, innovators, developers, and businesses from around the globe"
Being as Hinman may have had a conflict of interest while working at the SEC that could also affect the case now so I'm giving you all the facts but personally here's my take. The SEC is bidding it's town and slowing the case down so they can continue to stack up their wallets and buy on more and more XRP before the trail ends and it finally makes it's mark. Ripple repeatedly asked to see SEC Member's holdings of XRP however has never been given that. It's odd isn't it, if you don't have anything to hide, why not simply hand the info over? Unless you know exactly what's going on. SEC members are likely buying and buying XRP since they know once this case ends, Ripple will finally be able to make it's mark.
If you guys want to listen in on the Meeting today here's the info
HOW TO LISTEN TO THE HINMAN-RELATED CALL
The conference is scheduled for Tuesday, June 7, 2022, at 3:00 p.m.
Members of the public may listen to the proceedings at the following numbers:
USA: (877) 226-8215
International: (409) 207-6982
Access Code: 4713826 # (SN)
Thank you and please leave a like and follow as it's always appreciated, and let's get Rockin!
~ Rock
Basically to put things simply and explain quick, Mr. Hinman in 2018 at a Fintech Week Conference stated that the selling of Ether (ETH) did not constitute "securities transactions". He said this while he was serving at the SEC.
Now however the SEC has been dragging the case heavily instead of admitting what is obvious in their bid to slow the case down. Late last month after requesting to shield documents which relate to Hinman which was denied the SEC followed up with filing a letter motion that quote on quote "asserted" it had attorney-client privilege which relate to internal info about Hinman's 2018 speech. That couldn't be any further from the truth. And not only is it far from the truth but the SEC is doing whatever they can to avoid stating the obvious and keep this dragging.
Hinman's comments are likely to be one of the big deciding factors which work against the SEC's argument being that XRP is a security. To note though is that corruption watchdog Empower Oversight claimed to have documents having been obtained through a Freedom Of Information request that show Hinman having undisclosed direct financial interest with the Simpson Thatcher and Bartlett Law firm, the firm is a member of the Enterprise Ethereum Alliance (EEA) As according to their own site the EEA is; "EEA is a global community of blockchain leaders, adopters, innovators, developers, and businesses from around the globe"
Being as Hinman may have had a conflict of interest while working at the SEC that could also affect the case now so I'm giving you all the facts but personally here's my take. The SEC is bidding it's town and slowing the case down so they can continue to stack up their wallets and buy on more and more XRP before the trail ends and it finally makes it's mark. Ripple repeatedly asked to see SEC Member's holdings of XRP however has never been given that. It's odd isn't it, if you don't have anything to hide, why not simply hand the info over? Unless you know exactly what's going on. SEC members are likely buying and buying XRP since they know once this case ends, Ripple will finally be able to make it's mark.
If you guys want to listen in on the Meeting today here's the info
HOW TO LISTEN TO THE HINMAN-RELATED CALL
The conference is scheduled for Tuesday, June 7, 2022, at 3:00 p.m.
Members of the public may listen to the proceedings at the following numbers:
USA: (877) 226-8215
International: (409) 207-6982
Access Code: 4713826 # (SN)
Thank you and please leave a like and follow as it's always appreciated, and let's get Rockin!
~ Rock
