The newly released Hinman documents could potentially impact the wider crypto industry.
relevant to the ongoing legal battle between Ripple and the United States Securities and Exchange Commission have shed light on internal divisions within the SEC and raised questions about its motives.
“These documents are substantively bad for the SEC but the optics are even more damaging. Taken together, they demonstrate an SEC that is clearly more concerned with expanding its turf rather than its near-ninety-year mission of protecting US investors. They show the revolving-door aspect of agency bureaucracy at its worst.”
According to Rispoli, the core issue is that while cryptocurrencies may possess certain security attributes, their fundamental characteristics set them apart from traditional securities. Consequently, regulation is necessary but should not be entrusted solely to"power-hungry" securities regulators. He explained:
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