U.S. Legal and Regulatory News for Digital Asset Holders
Bill Hinman, CNBC interview
On the same day as his speech at the Yahoo! Finance Summit, William Hinman explains to CNBC that “when we look at ether” — ‘we’ clearly meaning the SEC — “we don’t see a third party promoter where applying the disclosure regime would make a lot of sense.” He goes on to describe securities transactions made with tokens that, in fact, closely describe the Ethereum ICO of 2014, the promotion of ether by Vitalik Buterin, Joseph Lubin and the Ethereum Foundation, and ongoing promotion by Lubin’s company, ConsenSys.
Court documents in the Ripple case revealed that the SEC met with Lubin and ConsenSys several times before Hinman gave his speech, and the SEC is fighting the release of emails, meeting notes and drafts of the speech that would identify the extent of involvement in drafting the speech by the biggest holders of ether, the biggest investors in Ethereum and ConsenSys, and third party promoters of ether at the time of its ICO.