SEC insists on confidentiality of Hinman speech on ETH status

The U.S. Securities and Exchange Commission (SEC) has filed a motion to keep materials related to Hinman's speech on the status of the air confidential. We are talking about the speech of Bill Hinman (Bill Hinman) at the Yahoo Finance All Markets Summit in June 2018, during which he stated that Ether is not considered a security. So when the SEC accused Ripple of running an unregistered ICO at the end of 2020, the company raised the question, referring to Hinman’s speech: if Ethereum is not classified as a security, why should XRP be an investment contract? In a motion filed with the Southern District of New York, the SEC argues that the public release of these documents will prevent its officials from openly expressing their opinions and discussing cryptocurrencies, which will cause significant damage to the agency.. The regulator said one of its employees had already been subjected to multiple threats and harassment. The SEC also requires that the personal and financial information of defendants, including cryptocurrency wallet addresses and bank account numbers, be hidden from the public. The regulator had previously opposed handing over drafts of Hinman's speech to Ripple, but in late September, Judge Analisa Torres ruled that these materials be included in the Ripple litigation.. Now they remain confidential, and the SEC is working to ensure that they remain so in the future. Many participants in the crypto industry hope that the dispute between the SEC and Ripple will be resolved.. However, Gokhshtein Media founder David Gokhshtein recently suggested that if Ripple pays a fine to settle the SEC lawsuit, it will badly affect other cryptocurrency companies and slow down the development of the industry.