- As the Ripple-SEC lawsuit draws closer to conclusion, crypto influencer Mr. Huber proposes how Judge Torres could apply Bill Hinman’s Ethereum analysis to Ripple’s native crypto, XRP.
- Depending on the interpretation, XRP could either escape being classified as a security or it could potentially face penalties, influenced by Hinman’s take on Ethereum’s status.
In the high-profile legal skirmish between Ripple and the U.S. Securities and Exchange Commission (SEC), an intriguing hypothesis has emerged from the crypto sphere. Mr. Huber, a respected crypto advocate and XRP community influencer, has recently taken to social media to speculate on how Judge Torres may incorporate Bill Hinman’s analysis of Ethereum (ETH) into her final judgment concerning XRP.
According to Mr. Huber, the ruling could tilt in two distinct directions. His first conjecture is rooted in the assumption that if Judge Torres validates Hinman’s lawful exclusion of Ethereum from being classified as a security, it’s probable that the same analytical lens would be applied to XRP. If this scenario were to transpire, XRP would also dodge being defined as a security, thereby sidestepping potential penalties.
Mr. Huber further elaborates that Hinman’s analysis doesn’t take into account factors such as the size of holdings or their transparency, further reinforcing XRP’s potential non-security status.
On the flip side, Mr. Huber presents an alternative projection. Should Judge Torres deduce that Hinman’s exclusion of Ethereum from the securities rule was not within the bounds of the law, yet concedes that Hinman’s interpretation could logically lead others to apply the same principle to XRP, we may see a contrasting resolution. In this scenario, XRP could be labelled as a security and, consequently, may be liable to face penalties.
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Nevertheless, the influencer highlights that the absence of clear warning and potential penalties could come into play in this context.
The crypto enthusiast’s suppositions come in response to queries from other community members regarding the pertinence of Hinman’s analysis to the SEC’s case against Ripple. Mr. Huber subsequently clarified that the XRP community opposes Hinman’s arguments mainly because Ripple’s counter-argument, centered around the lack of post-sale obligations, is arguably more legally sound and verifiable.
In conclusion, Mr. Huber cast a critical eye on Hinman’s ‘decentralization’ concept, labeling it as arbitrary and questioning its efficacy up to this point. As the lawsuit approaches its denouement, the crypto world waits with bated breath to see how these conjectures play out in the actual courtroom judgment.
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