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CryptoLaw Profile picture
CryptoLaw
@CryptoLawUS
U.S. Legal and Regulatory News for Digital Asset Holders. Founded and Hosted by John E. Deaton. https://t.co/yaPO6SNmtv
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Nov 11, 2022 • 4 tweets • 3 min read
Imagine if the @GaryGensler - @SBF_FTX deal to give @FTX_Official a regulatory free pass had gone through… The fact that @GaryGensler was talking to @SBF_FTX for months about a deal for @FTX_Official while Sam was doling out $30M in campaign gifts (mostly to Gensler’s party) was the worst kept secret in DC👇🏻
Jun 7, 2022 • 42 tweets • 10 min read
HEARING THREAD👇
The parties have gathered in the courtroom and are awaiting the judge to enter. @JohnEDeaton1 is at the courthouse to observe in the public gallery of the courtroom. @JohnEDeaton1 [The @CryptoLawUS team is dialed in and live-tweeting here.]
May 26, 2022 • 4 tweets • 2 min read
HOW DID THIS HAPPEN?

The Evidence Has Been Referred by @EMPOWR_us. Now the SEC OIG Needs to Act!

CONNECT TO CONGRESS and demand they support an investigation👇🏻 U.S. Residents Click Here 👇🏻
crypto-law.us/connect-to-con…
May 18, 2022 • 8 tweets • 7 min read
JUST ADDED to our Document Library:
✅Motion from @Ripple @bgarlinghouse and @chrislarsensf to Compel the @SECGov to Provide Responses that "Eliminate the Need to Prove Facts About Which There is No Real Dispute" on #XRP (1/8 of a thread) 👇
crypto-law.us/wp-content/upl… (2/8) SEC document production so far has included "at least 57 unique inquiries submitted over a period of more than 29 months asking the SEC whether it considered #XRP a security" & SEC always responded it "had not made a determination" as late as Oct 2020.
May 17, 2022 • 4 tweets • 2 min read
By far, the winner of the cringiest, most embarrassing video posted by a federal regulator in recent memory. A watchdog group literally just referred damning evidence of conflicts of interest by senior @SECGov officials to the SEC OIG, which @GaryGensler has ignored. Then this👇 Wanna cringe some more? 👇
protos.com/former-sec-dir…
May 10, 2022 • 4 tweets • 3 min read
🚨FORMAL REFERRAL SENT BY @EMPOWR_us FOR INVESTIGATION OF HINMAN ETHICS VIOLATIONS. Includes evidence of serious ethics violations by William Hinman in failure to disclose conflicts related to June 2018 $ETH speech & other violations (1/4) 👇
empowr.us/empower-oversi… (2/4) The referral to SEC IG details evidence obtained through FOIA showing Hinman "disobeyed clear directives from the SEC's Ethics Office" on multiple occasions, including giving June 2018 $ETH speech without disclosing his financial interest in a member of @EntEthAlliance.
Apr 8, 2022 • 6 tweets • 3 min read
"The @SECGov's behavior in SEC v. @Ripple raises serious questions about what remedy defendants and #XRP holders may have against an overbearing federal agency that has abused the power granted it by Congress." Frank Francone today in @Law360 (1/6)👇
law360.com/articles/14802… "The commission's lawsuit against Ripple uses an overly broad interpretation of the Securities Act to claim that XRP — the token itself — is a security regardless of how it was packaged and sold." (2/6)
Apr 8, 2022 • 4 tweets • 2 min read
Hey @peteschroeder - you tried to get then-SEC Dir. of Corp. Finance Bill Hinman on the record in August 2017 for a story about his potential conflicts of interest w/ Simpson Thacher. In addition to your 2017 emails w/ Hinman and SEC staff, @EMPOWR_us has also obtained these👇 For your reference, here is the latest set of Hinman emails released by @EMPOWR_us via FOIA earlier today. Your emails w/ the agency begin around p. 121.
empowr.us/empower-oversi…
Apr 8, 2022 • 5 tweets • 2 min read
JUST ADDED to our Document Library:
🚨THE HINMAN EMAILS: Hinman Explicitly Warned He May Never Meet with Simpson Thacher While in Office, then Promptly and Repeatedly Violates the Rule. (1/5) 👇
crypto-law.us/wp-content/upl… (2/5) In a terse exchange with an SEC ethics staffer on Jan 25, 2018, Hinman tries to get clearance to attend mtg. w/ Simpson Thacher in London. She warns him he can't have "any meetings" w/ the firm.
He tries to take the conversation off email.
Feb 18, 2022 • 5 tweets • 3 min read
JUST ADDED to our Document Library:
FIVE DOCUMENTS (a 🪡)
✅4/12/2021 Memorandum of Law Supporting @chrislarsensf Motion to Strike (Unredacted Version) 👇
crypto-law.us/wp-content/upl… (2/5)
✅4/22/2021 @SECGov Memorandum of Law Supporting Motion to Strike Fair Notice Defense (Unredacted Version) 👇
crypto-law.us/wp-content/upl…
Jan 28, 2022 • 7 tweets • 3 min read
In 2018 alone, then SEC Dir of Corp Finance William Hinman reported receiving $3.4M from Simpson Thacher & Bartlett, a member of the Enterprise Ethereum Alliance - an organization dedicated to promoting Ethereum (1/7) 👇 (2/7) That same year, Hinman and his staff met repeatedly with top investors and business promoters of Ethereum before he delivered a speech declaring ether is not a security.
reuters.com/article/us-cry…
Aug 16, 2021 • 7 tweets • 4 min read
🚨BREAKING: Govt watchdog group files lengthy FOIA request demanding access to internal @SECGov documents and records targeting Jay Clayton, William Hinman and Marc Berger over "potential conflicts of interest" on crypto while in office (1/7) 👇empowr.us/empower-oversi… (2/7) "We write today seeking information regarding the appearance of conflicts of interest by former high-level officials at the SEC relating to cryptocurrencies. It is in the public’s interest that the government’s emerging regulatory approach to cryptocurrencies is based on.."
Jul 15, 2021 • 5 tweets • 2 min read
NETBURN HEARING: As it heads to adjournment, @Ripple counsel angrily tells Netburn the SEC is "withholding every part of every internal memorandum" citing privilege and its position is "untenable" and "prejudicing" the defense, and the judge should be aware The SEC is throwing "deliberative privilege" over "everything they don't want to share" and Netburn should not be surprised if it happens over scope of Hinman deposition.
Jul 15, 2021 • 5 tweets • 3 min read
BREAKING: NETBURN ORDERS HINMAN TO BE DEPOSED. "This is not a run of the mill enforcement case by the @SEC_Enforcement" and "expressly finds" @ripple case is unique and the public interest in resolution of this case is substantial.
Jul 15, 2021 • 19 tweets • 6 min read
HEARING: Judge Netburn calls Hinman's 2018 #ETH speech "the central question" of this hearing. She called the SEC's bluff by essentially asking - if it was just his personal opinion, why can't he sit for a deposition and answer questions about it? SEC denies "any such tension exists" even though SEC staff participated in the drafting of the speech and it was all "pre-decisional" -- which is where Netburn stopped the SEC lawyer to say, "Pre-decisional? That means a decision was made...."
Jul 14, 2021 • 4 tweets • 2 min read
SEC Commissioners @HesterPeirce & Elad Roisman issue statement on @coinschedule settlement to slam SEC for again not specifying how it determines whether coins are securities or not. They also question the Howey Test as the be-all, end-all standard (1/4)👇sec.gov/news/public-st… (2/4) Omitting specificity on coins' status in the Coinschedule settlement was "symptomatic of our reluctance to provide additional guidance about how to determine whether a token is being sold as part of a securities offering or which tokens are securities."
Jul 2, 2021 • 8 tweets • 4 min read
JUST ADDED to our Document Library:
✅@Ripple, @bgarlinghouse & @chrislarsensf Response Opposing @SEC_Enforcement's Motion to Quash Hinman Subpoena for Deposition (1/8) 👇
crypto-law.us/wp-content/upl… (2/8) Defendants argue that Hinman himself said his infamous "#ETH-is-not-a-security" speech was "newsworthy. And those watching and listening agreed. The price of ether skyrocketed immediately after the speech..."
May 4, 2021 • 6 tweets • 4 min read
"We need a regulatory framework that builds on this growth, not one that squanders it. Two regulatory actions in December indicate that Washington doesn’t understand that." (1/6) by @KiteVC via @MorningConsult
morningconsult.com/opinions/crypt… (2/6) "The @SEC_Enforcement sued @Ripple, the inventor of the #XRP token, claiming that the cryptocurrency was an unregistered security when they sold it. Many say the lawsuit reflects a failure to understand the nature of cryptocurrencies and the networks on which they operate."
May 3, 2021 • 11 tweets • 7 min read
JUST ADDED to our Document Library:
✅Response from @Ripple @bgarlinghouse & @chrislarsensf to Motion to Intervene from @JohnEDeaton1 and #XRPHolders. Key points in thread below (1/11) Read the full document here 👇
crypto-law.us/wp-content/upl… (2/11) #XRPHolders "should be allowed to participate in this case. As independent holders, developers, and users of #XRP, with no relationship to Defendants, they have strong and distinct interests in the regulatory status of #XRP."
Apr 28, 2021 • 8 tweets • 3 min read
JUST ADDED to our Document Library:
✅@Ripple's response to @SEC_Enforcement 's Letter Motion asking Judge Netburn to prevent access to key internal documents related to #XRP #BTC & #ETH.
It's a barn burner. Read it here 👇
crypto-law.us/wp-content/upl… Ripple asserts that the SEC has "disregarded" Netburn's discovery order and "ignored the Court's directive to meet and confer in good faith on the scope of production" of these documents.
Apr 27, 2021 • 7 tweets • 2 min read
"Regardless of the outcome of the @Ripple case, it is clear that the SEC, Clayton, and Hinman should not have hijacked the policy process by taking advantage of a vacuum of clear boundaries on how far agencies can stick their noses into these issues." (1/7)spectator.org/crypto-regulat… (2/7) "This is especially important given what both Clayton and Hinman were doing before they came to the highest levels of the SEC and what they’ve been doing since they left public service."