Is the ripple case good? SEC emails suggest conflict of interest Crypto Insiders

The U.S. Securities and Exchange Commission (SEC) is still involved in a lawsuit with Ripple (XRP) because you can often read in Ripple news. The regulator is occasionally accused of selectively applying laws and regulations to crypto projects. Recently released emails show that these allegations can be serious. There seems to be a conflict of interest.

Are leaked emails good for the ripple case?

Empower Oversight, an intelligence and whistleblower system, Published Friday, 200 SEC filings. This is in addition to the 1000 documents previously released by the Regulator. These documents contain some juicy details, especially in emails.

For example, former SEC officer William Hinman had a direct financial interest in his old law firm, Simpson Thatcher. The SEC warned him in an email to refrain from doing anything he could to contact Simpson Thatcher. Hinman was also advised not to contact his old law firm for any reason.

However, Hinman met with one of the associates at the law firm on several occasions. It was three meetings after the SEC issued the warning. In addition, he is said to have met the co-founder and initial investor in Ethereum (ETH) shortly before Hinman’s speech in 2018, in which he stated that Ethereum was not a defense.

Further contradictions of interest with the SEC

And that’s exactly what the XRP case is; Is cryptocurrency a security? If so, Ripple would have violated the law and would have to pay billions in fines. In addition, it seems likely that this will be the end of the company in the United States.

The fact that Hinman founded that Ethereum is not an effect is astonishing. In fact, the law firm Simpson Thatcher was a member of the Enterprise Ethereum Alliance, a group dedicated to promoting Ethereum for commercial use.

In short, these documents may play an interesting role in the ripple case. “Recent documents raise more questions than they provide answers,” says Empower Oversight. The system will continue to put pressure on the SEC to clarify further.