"Ripple's Hinman Investigation and XRP Price Surge Amidst Crypto Uncertainty"
TL;DR
Ripple's chief legal officer, Stuart Alderoty, is calling for an investigation into former SEC director Bill Hinman's 2018 speech on crypto transactions and the application of the Howey test. Alderoty claims that Hinman "invented factors" to determine what "sufficiently decentralized" means and ignored warnings that the speech contained "made-up analysis with no basis in law." The speech caused confusion when the SEC later sued Ripple Labs for allegedly selling $1.6 billion worth of XRP as an unregistered security.
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