Attorney Grant Gulovsen of Gulovsen Law Office was quoted in CoinDesk on the release of the “Hinman Emails” as part of the ongoing SEC v. Ripple Labs, Inc. litigation. The emails in question are communications involving William Hinman, former Director of the U.S. Securities & Exchange Commission’s Division of Corporation Finance, which were made leading up to a speech he gave in June of 2018 when he stated that based on his understanding of “the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions.”
Although attorneys for Ripple Labs allege that the emails demonstrate that the SEC “took steps to deliberately aggravate” confusion in the marketplace, in fact the speech only represented Hinman’s personal view, and even if it didn’t reflect the views of the SEC, it was still useful as “a reasonable application” of the Howey Test applied to digital assets (according to Gulovsen). You can read the full article below:
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