Originally aired on June 13, 2023

The Hinman speech has been made public, and it contains emails showing that a token should not be classified as a security once it is fully decentralized. This conflicts with the SEC’s approach and could impact the future of crypto assets. The speech also highlights the SEC’s lack of understanding about how to classify digital assets as securities, which could result in unjust targeting of entrepreneurs and crypto asset exchanges.

Huge Victory for XRP and All of Crypto (Hinman Documents)

• The Hinman speech has been made public, featuring internal communications between Hinman and the SEC about how to classify digital assets.
• Hinman said that a token should not be classified as a security once it is fully decentralized, but the SEC’s approach has been to classify some crypto assets as securities.
• This speech could impact the future of crypto assets and what exchanges can list, especially for non-accredited investors.
• The SEC’s lack of understanding about how to classify digital assets as securities could result in potentially unjust targeting of entrepreneurs and crypto asset exchanges.
• The speech also highlights the SEC’s desire to keep control over the digital asset ecosystem, potentially hindering innovation and entrepreneurship.
• Hester Pierce’s Safety Harbor Act would have allowed crypto companies to register and prove their decentralization, but the SEC did not pursue this approach.