Ripple: Hinman's speech was once regarded as a guide by the SEC to expose regulatory loopholes, which should be investigated

Stuart Alderoty, Ripple's chief legal officer, tweeted yesterday that according to emails related to Hinman's 2018 speech released in the U.S. SEC and Ripple lawsuit, William Hinman, the former director of the SEC's corporate finance department, had ignored multiple warnings that his speech contained no The fictitious analysis of the legal basis, separated from the Howey factor, exposes regulatory loopholes, which will not only cause confusion, but even greater market confusion. Although Hinman claimed the speech was his personal opinion, he and the SEC touted it as guidance. Then then-SEC Chairman Jay Clayton publicly pointed this out. Although the SEC has repeatedly changed its attitude towards the importance of the speech during the lawsuit, it still publishes its speech on its website.
Stuart Alderoty said the SEC should immediately remove the speech from its website. There must be an investigation to understand what or who influenced Hinman, why the debate was ignored, and why the SEC touted the speech knowing it would create "greater confusion." Finally, Hinman’s speech should no longer be invoked in any serious discussion of whether tokens are securities.
Earlier news yesterday, the US SEC released the key Hinman documents related to the Ripple lawsuit.
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