The post Twist Revealed: Is Vitalik Buterin Linked to the Process of Hinman Documents? Here’s The Truth appeared first on Coinpedia Fintech News

As recent developments unfurl in the high-stakes legal feud between the U.S. Securities and Exchange Commission (SEC) and blockchain payments titan Ripple, a surprise connection emerges – Vitalik Buterin, the mastermind behind Ethereum.

Newly disclosed documents divulge his role in events leading to a consequential speech by William Hinman, the former SEC director. This 2018 discourse led to a watershed moment, demarcating Ethereum (ETH) as not being a “security,” lending it an exceptional legal status.

Here is the first of two extracts covering a passage in the Rule 56.1 statement. There was some internal debate about whether to include #Ether. No problem. Let’s just call Buterin for an unbiased opinion on how Ethereum works. We will just trust what he says. /7 pic.twitter.com/ImUwxhccWE

— bill morgan (@Belisarius2020) June 13, 2023

Buterin’s Unexpected Role

In a turn of events, documents indicate that Buterin was involved in consultations leading to the pivotal Hinman speech. An excerpt from the newly revealed material indicates that the SEC harbored some internal opposition against clubbing Ethereum with Bitcoin as examples of digital assets not classified as “security.”

On June 4, Hinman circulated a draft of his speech among the SEC’s division heads. The document revealed his intention to converse with Buterin later that week to validate the SEC’s comprehension of the Ethereum Foundation’s functioning. This disclosure underscores the Ethereum founder’s influence on the ultimate outcome of the speech.

Waiting for the Hinman Documents

Termed the “Hinman documents,” these internal communications form a critical component in the ongoing Ripple-SEC lawsuit. Ripple’s CEO, Brad Garlinghouse, anticipates these documents, scheduled for release, to provide a crucial edge to their legal defense. He believes that the information within could significantly sway the final outcome of the case.

Broader Implications of the Ripple-SEC Dispute

The Ripple-SEC lawsuit outcome extends beyond its immediate parties. It poses significant implications for XRP’s price and potentially sets a precedent for the broader crypto community. Consequently, altcoin holders are keeping a vigilant eye on legal developments.

Hinman’s documents provide an in-depth look into the SEC’s stance towards cryptocurrencies. They could potentially uncover the mechanisms and thought processes within the SEC when deciding the regulatory status of cryptocurrencies.