In a noteworthy response to Hinman’s Emails, Ripple CEO Brad Garlinghouse refrained from using the term “fraud,” instead emphasizing the importance of integrity within the government. The release of these emails has sparked extensive discussion among experts and observers in the crypto ecosystem, prompting Garlinghouse to share his insights on the matter.
I won’t use the ‘fraud’ word (I’m not a lawyer and I don’t know the precise legal threshold) but I think we can all agree that our government should act with integrity. The SEC – despite the industry asking for clarity – is actively approaching crypto in bad faith.
— Brad Garlinghouse (@bgarlinghouse) June 13, 2023
The CEO’s surprising remarks came in response to a tweet by media personality Charles Gasparino, who highlighted the XRP community’s tendency to label the documents and their underlying basis as fraudulent within the Securities and Exchange Commission (SEC).
Garlinghouse clarified that, as a non-lawyer, he would not personally employ the term “fraud” due to a lack of precise understanding of the legal threshold associated with the documents. However, he emphasized the significance of the government acting with integrity, a sentiment echoed by many in the industry.
While Garlinghouse refrained from explicitly using the term “fraud,” he tweeted, “I won’t use the ‘fraud’ word (I’m not a lawyer and I don’t know the precise legal threshold), but I think we can all agree that our government should act with integrity. The SEC – despite the industry asking for clarity – is actively approaching crypto in bad faith.”
Garlinghouse further criticized the SEC for what he perceived as an unfavorable approach to the crypto industry, despite repeated calls for regulatory clarity. He pointed out that Coinbase Global Inc, one of the exchanges recently sued by the SEC, has taken the unprecedented step of suing the commission for its failure to provide the sought-after regulatory clarity despite months of appeals.
Implications of the Hinman Emails in the Ripple vs. SEC Case
After a series of court orders, the long-awaited Hinman Emails have been released to the public. While the content of the emails may surprise many, their impact on the ongoing Ripple vs. SEC case is expected to be limited, as Ripple’s legal counsel has already had access to these documents for some time.
The release of the emails serves the purpose of promoting transparency and freedom of information, as public interest in the legal battle between Ripple and the SEC remains high. With the XRP community now more informed about the email contents, the outcome of the case carries increased significance. A summary judgment on the lawsuit is anticipated in the near future. Prior to this point, experts analyzing the arguments presented by both the SEC and Ripple have largely favored the latter to emerge victorious.
Source: https://coinpedia.org/news/hinman-emails-unveiled-ripple-ceo-urges-integrity-in-government-questions-secs-intention/