Ethereum Detail in Hinman Documentation

There has been a critical development in the Ripple-SEC case, which has been going on for 2 years. The first information about the Hinman documents, which is part of the Ripple case, was shared. In the document, it was stated that there are concerns about the reflection of Ethereum as a security. It was stated that Hinman does not need ETH to be regulated as a security. It was also noted that the SEC had spoken to Buterin regarding the issue.

Some documents related to William Hinman have been published in the lawsuit filed by the US Securities and Exchange Commission (SEC) against Ripple. In the documents, former SEC director Hinman stated that Ethereum does not need to be regulated as it is not a security in its current form. Documents reveal that the SEC consulted Vitalik Buterin in the process leading up to the controversial speech. It was noted that the SEC held a meeting with Buterin to confirm its understanding of how the Ethereum Foundation works.

Hinman was the head of the SEC’s finance division in 2017-2020. According to the documents that emerged, Hinman argued in his 2018 speech that Bitcoin and Ethereum are not securities. The documents also included comments from the Department of Commerce and Markets on Hinman’s assessment. The department noted that having a very strong view on BTC could weaken the SEC’s efforts towards other cryptocurrencies that are securities. Hinman stated that he needs more internal discussion to make a general statement about ETH.