Hinman’s emails and statements during the SEC vs. Ripple lawsuit created confusion and opened many unknowns.
Ripple is going for Hinman’s involvement in Ethereum (ETH), claiming a conflict of interest, while SEC is trying to prove XRP (XRP) is not decentralized.
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Hinman Emails Got Ethereum (ETH) the Free Pass as Non-Security
Upon releasing the Hinman emails, there were a lot of unknowns and speculations as to why Ethereum (ETH) was favored by the SEC and not classified as a security.
In his speech at Yahoo! Summit, William Hinman argued that from its creation till now, the Ethereum (ETH) network had become sufficiently decentralized.
Many believe that Ethereum (ETH) was a security when it first entered the crypto market, considering how the token sales were conducted.
According to Hinman’s statement, circumstances change in the crypto market, and blockchain networks evolve, as did Ethereum (ETH) apparently.
Current SEC Chairman Gary Gensler was opposed to releasing the Hinman documents in public, believing that this would affect taking a different stand on Ethereum (ETH) in the future.
Although the Hinman documents represent his views on the issue, the SEC will have a difficult time proving that they don’t represent their views.
In the meantime, Ethereum (ETH) is experiencing a slight fall in the past month by 4.78%. Ethereum (ETH) is currently trading at $1,729.91.
SEC Will Not Deem XRP (XRP) a Non-Security
Contrary to SEC and Hinman claim’s, Ripple argues that the XRP (XRP) token is commodity money. Anyone can build using the XRP (XRP) and transfer assets, meaning that the XRP (XRP) network has also decentralized over time.
This goes contrary to Ripple’s decision from the start to control the disbursement of the XRP (XRP) units. Namely, SEC claims that the Ripple company controls the validators and, in turn, controls the XRP (XRP) Ledger. This leads to the conclusion that XRP (XRP) has not decentralized at all.
Contrary to Ethereum (ETH) fluctuations, XRP (XRP) marks a 4.72% rise in the past month.
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