Lawyers say there’s a ‘game, set and match’ possibility for Ripple and XRP lawsuits.


A lawyer and cryptocurrency legal expert said an ethical breach could end the US Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs.

Attorney John Deaton points Documents exposed by the anti-corruption watchdog Empower Oversight involving William Hinman, former corporate finance director of the SEC, and a 2018 speech stating that Ethereum is not a security.

According to Empower Oversight, the found emails were discovered by Hinman to intentionally create a conflict of interest. speech before passing it on. If substantiated, Deaton said the SEC’s lawsuit against Ripple, filed in December 2020, would end the claim that XRP was issued as an unregistered security.

“If Hinman didn’t bring his speech to the conflict jury, it’s games, sets and matches. If we force this investigation through a letter from Congress, the Ethics Office will be angry and want to throw him under the bus.”

According to statement Hinman presented at Empower Oversight ethereum (ETH), at the same time the speech was made. Hinmando rejoin A law firm that has recently filed a lawsuit.

The group says the SEC’s ethics office has warned Hinman that he needs to step down on the matter.

“[Our] In a FOIA request, the SEC’s Ethics Office warned Hinman that he had a direct financial interest in former law firm Simpson Thacher, so he should avoid himself in any matter that could affect the company. And so that he does not misunderstand his position, the Ethics Office has explicitly told him not to have any contact with Simpson Thacher employees.”

Empower Oversight said Hinman did not disclose his relationship with the law firm and that his remarks helped boost the price of Ethereum at the time of his speech.

“Records and other information disclosed on Empower Oversight tend to show that Hinman did not disclose his direct financial interests in Simpson Thacher and further in the Enterprise Ethereum Alliance…

In his speech, he expressed the opinion that Ether is not a security, stating that ‘based on my understanding of Ether’s current state, the Ethereum network and its decentralized structure, Ether’s current offer and sale is not a securities transaction’. After Hinman’s speech, the value of Ether rose.”

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