US SEC May Be Bluffing About Crypto Enforcement

Crypto Market News: Ripple chief executive officer Brad Garlinghouse lambasted the U.S. Securities and Exchange Commission (SEC) for all the mess around Hinman emails and the Ripple lawsuit. In a shocking discovery in the documents, Hinman wrote that he didn’t see a need to regulate Ethereum (ETH) as a security and that he would consult Ethereum cofounder Vitalik Buterin later that week to confirm mutual understanding about the same. During the same time period, Ripple and its executives were subjected to the lawsuit, in which the SEC argued that XRP tokens were sold as unregistered securities.

Also Read: XRP Lawsuit: Vitalik Involved In Process Of Hinman’s Infamous ETH Speech; Reveals Docs

In this context, it will be interesting to see how Judge Analisa Torres, who is overseeing the Ripple Vs SEC lawsuit, will react to the Hinman documents. The part about Ethereum not being a security may be closely looked at.

Ripple CEO: SEC May Have Bluffed All Through

Considering the SEC’s enforcement actions on crypto businesses despite lack of regulatory clarity, the agency, according to Ripple CEO Brad Garlinghouse might have bluffed about its calls to come and register all through. He said the agency’s open invitations to come forward and register crypto tokens may have been a lie.

“Seeing the depth to which the SEC has essentially weaponized the lack of regulatory clarity through enforcement actions since this speech was given – it’s no surprise that we can call bluff on their claims to “just come in and register” as nothing but in bad faith.”

Meanwhile, it remains to be seen when Judge Torres will deliver the Summary Judgement, now that the Hinman emails are revealed.

Also Read: Ethereum Sees Sharp Selloff as it Got Embroiled in Hinman Email Controversy

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Anvesh reports major crypto updates around regulation, lawsuits and trading trends. Published around 1,000 articles and counting on crypto and web 3.0. He is currently based in Hyderabad, India. Reach out to him at [email protected] or twitter.com/BitcoinReddy

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