#XRPCommunity #SEC_News v. #Ripple #XRP 1/5 What a convoluted and contradictory motion to quash. First, Hinman gives a pass to ETH in what is arguably the most impactful speech on digital currencies at the time as well as in Hinam’s career at the SEC.
2/5 Second, the SEC says Hinman held a position of “critical importance” to the SEC’s operations. Third, the SEC then says “Director Hinman Has No Unique, First-Hand Knowledge of Market Participants’ Understanding as to the Regulatory Status of XRP Offers and Sales.”
3/5 Fourth, the SEC shows its weakness, saying “the Court should quash the Subpoena without prejudice until after Judge Torres’s ruling on the SEC’s motion to strike Ripple’s fair notice defense. Finally, Hinman finishes it (and his credibility) off with the declaration that
4/5 “To the best of my knowledge, the Commission had not taken at that time, and still has not taken, any position or expressed a view as to whether offers and sales of Ether constituted offers and sales of securities."
5/5 I expect that Ripple and the Individual Defendants are going to absolutely shred this in their response to the SEC’s motion.
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