news

bitcoin

1 X bitcoin bitcoin =

Monday

26 July 2021

Ripple Can Depose SEC Official Who Ruled ETH Isn’t a Security — Judge - Decrypt

Ripple Can Depose SEC Official Who Ruled ETH Isn’t a Security — Judge - Decrypt


smart summary beta

Ripple's legal strategy has turned on portraying the SEC's lawsuit as arbitrary and unfair, and pointing out previous agency rulings that found Bitcoin and Ethereum are not securities.

The SEC's Ethereum ruling, which came in a 2018 speech by Hinman, has proved especially controversial.

While celebrated by many in the crypto world because if lifted a legal cloud over Ethereum, the speech raised eyebrows in the legal world after Hinman invoked a new doctrine that held a blockchain token was not a security once it became "sufficiently decentralized." Until the speech, such a doctrine was unknown in securities law, where the "Howey Test"—a set of criteria set out in a 1946 Supreme Court ruling—remains the measure for determining what is a security.

The SEC today argued that Hinman was speaking for himself, not the agency, though it admitted that agency staff helped draft the speech.

Goto Full Article

bitcoin bitcoin price

$38424.00

24h

Live Average

bitcoin

News Article Sentiment

negative

Score (-0.4)

Article Metadata

author

site

decrypt.co

categories

Market data feeds provided by cryptocompare.com
bitsmart 2021