Hinman documents from Ripple-Sec Fall should trigger more decentralization in crypto: JPM

Veröffentlicht:

Aktualisiert:

Von:

Analysten des amerikanischen multinationalen Finanzdienstleistungsriesen JPMorgan sagten in einem Bericht, dass die Hinman-Dokumente letzte Woche im Rechtsstreit der Securities and Exchange Commission mit dem Blockchain-Zahlungsunternehmen veröffentlicht wurden Ripple würde wahrscheinlich eine stärkere Dezentralisierung im Kryptobereich auslösen. Der von CoinDesk eingesehene Forschungsbericht stellte außerdem fest, dass die Dokumente einen erheblichen Vorteil für Ether (ETH) bieten, den zweitgrößten Krypto-Asset nach Marktkapitalisierung. Ein Boost für Ether Bei den Hinman-Dokumenten handelt es sich um interne Nachrichten und E-Mails im Zusammenhang mit der Rede des ehemaligen Director of Corporation Finance William Hinman aus dem Jahr 2018, in der es um die Ähnlichkeit der ETH mit …
Analysts of the American multinational financial service giant JPMorgan said in a report that the Hinman documents were published last week in the legal dispute of the Securities and Exchange Commission with the blockchain payment company Ripple would probably trigger a stronger decentralization in the crypto sector. The research report viewed by Coindesk also found that the documents offer a significant advantage for Ether (Eth), the second largest crypto asset after market capitalization. A boost for Ether for the Hinman documents is internal news and emails in connection with the speech of the former Director of Corporation Finance William Hinman from 2018, in which the similarity of ETH with ... (Symbolbild/KNAT)

Analysts of the American multinational financial services giant JPmorgan said in a report that the Hinman documents were published last week in the legal dispute of the Securities and Exchange Commission with the blockchain payment company.

The research report viewed by Coindesk also found that the documents offer a significant advantage for Ether (Eth), the second largest crypto asset after market capitalization.

a boost for ether

The Hinman documents are internal news and emails related to the speech by the former Director of Corporation Finance William Hinman from 2018, which dealt with the similarity of ETH with a product. Hinman said that ETH did not look like a security at the time, even if it originally started as such. He explained that such assets could become too much as soon as they were sufficiently decentralized.

On June 13th Ripple used statements in the documents to defend the allegations of the SEC in the ongoing legal dispute. Since December 2020, the US regulatory authority has insisted that the sale of XRP-the native token of the network-is a non-registered security offer, since it fulfills the necessary criteria for the existence of the Howey test.

over time, Ripple has rely on the fact that XRP is not a security. The company claimed that when it was founded, the token was sold in the same way as ETH and should therefore also be recognized as goods. Both parties have made several applications, which makes it difficult for the court to make a judgment.

The JPMorgan analysts under the direction of Nikolas Panigirtzoglou said that SEC civil servants had admitted that the presence of tokens in a "sufficiently decentralized network" that cannot be classified as securities creates a regulatory gap.

According to the report, the Hinman speech recognizes another category of assets that are not securities "because there is no control group (at least in the Howey sense)". The analysts assume that a need for regulation to protect investors could arise.

The financial services company indicated that the discoveries of the SEC could be the reason why the authority did not take any enforcement measures against ETH despite the intensive examination of other tokens.

trigger for more decentralization

In addition, the report found that the revelations in the documents could lead to other cryptocurrencies such as ETH and more decentralized, since a stronger decentralization would reduce the chance of a digital wealth value than to be recognized as securities.

"The Hinman documents will probably influence the direction of the current efforts of the US congress, to regulate the crypto industry in such a way that ether would avoid classification as securities," wrote the analysts.

.