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Ripple CEO alleges Hinman Docs at worst reveal Former SEC Director Hinman received millions from an alliance of law firms with a vested interest . Also states that the SEC never once suggested XRP was a security in meetings but later fined and sued and is

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by COINS NEWS 89 Views

The Ripple CEO certainly went hard in his recent speech. You can take a look at it here: https://twitter.com/bgarlinghouse/status/1669805367688331267?s=20

In it he makes some very strong allegations, such that former SEC director "Hinman received millions of dollars from his law firm which was part of an alliance with others with a vested interest". Basically implies here some corruption by top SEC staff clearly working illegally with companies who are against Ripple's stance and bottom line. He also said that Himman "deliberately ignored the law and tried to create new laws", something only Congress can do.

He went further to state them "Weaponizing the lack of regulatory clarity to exert jurisdiction over the entire space". And that the SEC tried to bully them into acquiescing but they had the resources to fight back. He also states they "knowingly created confusion about the rules and used the confusion to regulate by enforcement". These of course all tie back to the Ripple CEO saying the SEC "never once suggested Ripple was a security". These statements at the very least do echo statements made by very many crypto firms that the SEC has meetings where they state nothing about security status and then one day suddenly accuse firms of breaking the law. Even worse, he says they even refuse to provide specifics about the situation.

One of his last lines was certainly one of the strongest, that the SEC is trying to kill crypto innovation in the US. These also tie into him saying the SEC told firms to come in and register while lying about their guidance even while the Hinman docs reveal the SEC can't even agree upon the rules amongst themselves.

submitted by /u/OneThatNoseOne
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