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The SEC is unsure if the footage of Bill Hinman in the Ripple matter is truly Bill Hinman

  • News
  • May 23, 2022
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In court records, the SEC declared, “After determining, the typical characteristic and presently accessible is inadequate, the Commission to accept or reject this motion.”

The Securities and Exchange Commission (SEC) of the United States is unable to verify whether a video purporting to contain Bill Hinman truly does.

Bill Hinman, also recognised as William Hinman, is a senior head of the Securities and Exchange Commission’s Division of Corporation Finance who has played a key role in the lengthy legal fight between the SEC and Ripple Labs over accusations of unlicensed equity securities via Ripple (XRP) items.

When at the SEC, Hinman declared that the trade of Ether (ETH) shall not establish “trading activities” at the 2018 Fintech Week Summit.

However, it appears that the SEC is delaying recognizing the apparent in order to stall the whole thing.

The SEC has “refuses to react in compliance with applicable regulations as to 53 RFAs on serious things where there is no meaningful disagreement,” as per a petition to force filed by Ripple Labs’ team of lawyers at Debevoise & Plimpton on Wednesday.

Ripple is asking a judge to either acknowledge the RFAs or require the SEC to file updated replies. The SEC has also not been able to verify a handful of events that seem to be indisputable with respect to RFAs centred on Hilman.

Regardless of the fact that Hinman was immediately noticeable and heard during a taped conversation at a social venue, the SEC has declined to acknowledge or deny if the tape is genuine or whether the claims made by Hinman were uttered by himself.

Interestingly, the speaker, Chris Brummer, a Georgetown senior lecturer, seems to have published the YouTube video cited by Ripple’s legal staff. His name is on the page, which was created in 2016, and his default avatar leads to his website.

Considering this, the SEC professes to be baffled as to who the mysterious figure is:

“According to all the preceding concerns, and after a competent investigation, the typical characteristic and available online to the Commission is insufficient to allow it to accept or reject this petition.”

The SEC has also dismissed a plea to question the video’s legitimacy and seems adamant about withholding any details about the case.

It also issued a written petition claiming lawyer confidentiality regarding internal facts concerning Hinman’s 2018 address early last month, following having a petition to conceal is such to Hinman refused.

Many observers have speculated that Hinman’s remarks could be one of the major determinants in the SEC’s decision to classify the XRP coin as a commodity. Hinman could have had a contradiction while working at the Securities and Exchange Commission, which could influence the prosecution’s conclusion.

Enabling Accountability, a fraud monitor, stated on May 11 that it received records acquired through a Public Records Request that proved Hinman had an unreported “clear monetary stake” in the legal firm Simpson Thacher & Bartlett, which is a part of the Enterprise Ethereum Alliance (EEA).

“If Hinman won’t publish,” said John Deaton, the creator of judicial news organization Bitcoin Logic, to his 198,000 Twitter users.

 

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