SEC Releases Hinman Speech, "ETH Isn't Securities".
The U.S. Securities and Exchange Commission (SEC) released a speech by former SEC Corporate Finance Director William Hinman at the Yahoo Markets Summit in 2018. In the speech, Hinman said, "Based on the understanding of the Ethereum network and its decentralized structure, current Ethereum-related transactions are not securities transactions." Former SEC Corporate Finance Director Hinman is considered a key figure in the lawsuit between the SEC and Ripple over the sale of unregistered securities. Based on Hinman's speech, Ripple is developing a defense logic that 'XRP cannot be a security just as ETH is not a security'. However, the first footnote to the speech states.
