Case Of XRP Vs SEC: Hinman's Speech Draft Turns Out To Contain Attacks Against Ripple From Competitors

The Ripple vs SEC case turned out to involve XRP competitors. (Photo; Doc. CryptoActu)

JAKARTA - Recently, well-known attorney Jeremy Hogan, revealed his allegation that the former SEC's corporate finance director, William Hinman, may have received payments from the Ethereum Foundation to give his controversial speech stating that Ethereum (ETH) is not a securities asset.

This is related to Hinman's recently released email and draft speech, which continues to cause controversy in the crypto industry. In the released documents, it was revealed that top SEC officials had warned Hinman about the consequences that might arise as a result of the speech.

They even emphasized that the speech was "despite Howey factors" and had no solid legal basis. Nevertheless, Hinman continued his speech and stated that ETH was a non-security asset because it was decentralized enough.

The documents also reveal that Hinman communicated with Ethereum co-founder Vitalik Buterin while compiling his speech. Speculation also arose about Hinman's motivation in giving the speech.

Hogan's attorney said that Ripple, the company currently involved in legal issues with the SEC, suspected that Hinman might be accepting payments from the Ethereum Foundation or related parties to grant ETH free permits.

In discussions conducted by several lawyers in the CryptoLaw live broadcast, it was revealed that the emails indicated that Hinman did intend to grant free permission to ETH. Hogan stressed that from the start, Hinman had stated that ETH was not a security asset, and that was the main goal of his speech.

These allegations add to the complexity of debates about Ethereum's legal status and the impact of Hinman's speech in the crypto industry. This issue will continue to be monitored and become an important part of the development of regulations related to crypto assets in the future.