SEC Could Not Identify Former Employee in Ripple Video

The U.S. Securities and Exchange Commission (SEC) could not “confirm or deny” the authenticity of the video featuring William Hinman, who served as the agency’s Director of Corporate Finance.

The SEC will neither confirm nor deny that this is Bill Hinman. I hope this is all just a bad bad dream. Is this really the Securities and Exchange Commission of the United States of America? Is this what the SEC needs 2.5 billion dollars budget for? @RepTomEmmer pic.twitter.com/AfVTwBOIoU

— stefan huber.justice (@Leerzeit) May 19, 2022

The video concerns Hinman’s Fintech Week 2018 remarks, where he stated that deals with Ethereum are not “securities transactions.”

The video was uploaded to YouTube in January 2019. The account from which the publication was posted apparently belongs to interviewer Chris Brummer.

«With all the above objections and after a reasonable investigation, it can be concluded that the information currently available is insufficient for the Commission to confirm or deny this request,» said the regulator’s representatives.

According to Ripple’s lawyers’ motion of May 18, the Commission did not respond at all to 53 RFA on issues that are important to advancing the case. The company noted that on these points “there are no real disputes.”

#XRPCommunity #SECGov v #Ripple #XRP Ripple Defendants file Motion to Compel regarding the SEC’s deficient responses to Ripple Defendants’ Fourth Set of Requests for Admissions https://t.co/SKQwv63ggr

— James K. Filan 🇺🇸🇮🇪96k+ (beware of imposters) (@FilanLaw) May 18, 2022

In April 2022, Judge Sara Netburn rejected the corresponding motion to reconsider the confidentiality of documents related to Hinman’s 2018 speech.

In December 2021 the Deaton Law Firm said that the SEC showed greater loyalty to Ethereum than to the XRP token.

Earlier Fox Business published a major investigation. Journalists concluded that the officials behind the filing of the suit could have been affiliated with Ethereum.

In August 2021 the nonprofit Empower Oversight pointed to a potential conflict of interest in the actions of former high-ranking SEC officials.

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