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HomeCrypto NewsMarketRipple v. SEC: New Email Conversation Shows William Hinman Violated SEC’s Rules

Ripple v. SEC: New Email Conversation Shows William Hinman Violated SEC’s Rules

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Ripple v. SEC: New Email Conversation Shows William Hinman Violated SEC’s Rules.



With the SEC refusing to produce William Hinman’s emails, new documents shared by Empower Oversight show that the former SEC director violated the Securities and Exchange Commission’s rules. 

The documents, which feature messages from Hinman’s email, suggest how the former SEC director violated the agency’s rule multiple times. 

 

Hinman Breaches SEC’s Rules

In some of the conversations, Hinman was specifically warned by Shira Minton, former SEC’s Ethics counsel, not to meet with Simpson Thacher & Bartlett, a New York-based international law firm, while he was still working with the SEC. 

“You have a bar under the criminal financial conflict with Simpson because you have an ongoing financial interest in the firm. meeting with them while having such a conflict is not permitted,” Excerpt of a message sent by Minton to Hinman. 

However, Hinman neglected all warnings and went ahead to have the meeting with Simpson Thacher on four different occasions, as he disclosed in another conversation he had with one of the staff using a private email address. 

“We don’t know what Hinman and Bonnie discussed in their private meetings on 11/28/17, 9/6/18, 9/18/19 or 9/17/20, or how many other times Hinman violated criminal financial conflict rules without using his official SEC email account,” Crypto Law, a U.S.-based media outlet covering legal news for the crypto industry,  noted

 

It is worth noting that Hinman’s email conversation is part of the documents received by Empower Oversight from the SEC earlier this year. 

Hinman’s Role in the Ripple Lawsuit

On numerous occasions, Hinman’s name has been mentioned in the lawsuit slammed by the security agency on Ripple. 

Hinman is considered an integral part of the lawsuit because of his 2018 comments on whether Ethereum is a security, which was drafted in an email. 

Many believe XRP was also included in the conversation, which could see the charges against Ripple go away. 

However, all efforts to have the SEC surrender the email have been futile as the agency argues that some of the details of Hinman’s comments are personal deliberations, which makes it protected by the Deliberative Process Privilege (DPP).

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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