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Ripple's Chief Legal Officer Calls for Investigation Into Former SEC Director's Speech
Ripple's chief legal officer, Stuart Alderoty, is calling for an investigation into the former U.S. Securities and Exchange Commission's (SEC) director Bill Hinman and his 2018 speech on crypto transactions and the application of the Howey test.
Documents related to the speech were made public, revealing internal discussions among SEC staff and Alderoty's claims that Hinman "invented factors" to determine what "sufficiently decentralized" means. Alderoty is urging the SEC to remove the speech from its website and initiate an investigation into the former director.