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SEC vs. XRP Update: Did William Hinman Have Conflict of Interest?

Gaurav Roy by Gaurav Roy
May 16, 2022
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NEW YORK, United States – The battle between XRP and the Securities and Exchange Commission continues. Recently, more concrete documents were showing up, and things might not look good for the complainant, the Securities and Exchange Commission.

The William Hinman documents have remained a central piece in this lawsuit. Still, the SEC has filed a petition for it not to be disclosed publicly under the “client-attorney privilege” granted by Judge Sarah Netburn. However, a whistleblower emerged with substantial evidence against the former chief of SEC, William Hinman.

Empower Oversight is a non-profit organization that watches over corruption. It said that it could gain access to some documents related to Hinman through the “Freedom of Information” request. The documents stipulated that Hinman had a conflict of interest when he stated that Ethereum was not a form of security in 2018.

SEC vs. XRP Update- Did William Hinman Have Conflict of Interest
An image of a person holding a folder saying “Top Secret Files.”

The documents revealed that the former chief was in contact with Simpson Thacher & Bartlett law firm, which the Ethics Office prohibited him from doing. The firm is a part of the Enterprise Ethereum Alliance, and Hinman had an undisclosed financial interest. He was also with the company before joining the SEC and rejoined it in 2021.

If this document becomes admissible in court, then Hinman will be asked why the SEC is showing partiality in chasing after cryptocurrency exchanges like XRP while others are getting a “free pass” and what the Ethics Office did to ensure that Hinman will not do such act (conflict of interest), and why despite all efforts, the act still happened.

SEC vs. XRP Update- Did William Hinman Have Conflict of Interest
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Many are assuming that the lawsuit will turn against the SEC. If that’s the case, then the XRP can set the stage for other crypto assets not to be chased after by the SEC; but if the SEC wins, it will have the upper hand and more litigation power over the whole crypto market.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
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Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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