Cardano’s Hoskinson: Trading ‘conspiracy theories’ won’t help Ripple win

Ripple is still embroiled in a legal battle with the SEC, with some community members alleging significant corruption on the part of the agency for targeting the blockchain company. Charles Hoskinson, founder of Cardano, made his position clear on the issue, supporting Ripple by saying that Layer 1 protocols are not securities.

However, the XRP Army is not happy with Hoskinson’s opinion of the corruption debate within the Securities and Exchange Commission.

Fragment space

Proponents of XRP believe that there is a conflict of interest between William Henman, the former director of SEC Institutional Finance. During his time at the agency, he reportedly attended meetings with several Ethereum officials after clarifying that ETH is not a security. Hinmann calendar show up It met with entities linked to Ethereum four times between 2017 and 2018, far more than any other crypto company.

It also revealed that Ripple and its legal team met with SEC representatives once in April 2018, three times in 2019 and twice again in 2020. These developments have supported the growing belief that regulatory oversight has unfairly targeted the blockchain company in its crackdown.

The founder of Cardano, for his part, thinks differently. In a recent podcast with Thinking Crypto founder Tony Edward, Hoskinson said that the XRP community was trying to devise a “huge conspiracy” about “obvious corruption” between SEC and Ethereum insiders.

This did not sit well with the XRP army, who later recalled it on social media. But Hoskinson believes that this corruption debate will not help Ripple win the case but rather “break up the space.” When responding to attorney John Deaton, Hoskinson He saidAnd the

“You are John’s attorney and understand very well that discussing corruption will not have any impact on the current XRP is a security conversation. This is an entirely separate issue and should be treated as such. All it does is divide the space and reduce the chance of winning.”

Hoskinson also said it’s “nice to be angry with selective enforcement” while emphasizing that “real action has to be taken”.

ripple vs. SEC

Ripple made small but noticeable gains against the Securities and Exchange Commission. In another tactical victory, US District Judge Annalisa Torres decided to release the documents that Hinman had written. The Securities and Exchange Commission had earlier objected to producing the same, citing its irrelevance to the case, and also said that the documents are protected by deliberative proceeding privilege (DPP) and fall under attorney-client privilege.

It remains to be seen whether the commission will actually hand over the documents to the court. According to Stuart Alderoty, Ripple’s general counsel, the agency has shown its last six court orders, a move seen as deliberately promoting uncertainty rather than providing clear guidance.

Hoskinson published by Cardano: Promoting conspiracy theories on Ripple Win will not help for the first time on CryptoPotato.

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