Odaily Planet Daily News Encryption lawyer and Hodl Law founder Fred Rispoli believes that the Hinman document describes an agency that prioritizes expanding its jurisdiction rather than fulfilling its core responsibility to protect US investors. “These documents are bad for the SEC, but more damaging on the surface. Taken together, they show that the SEC is clearly more concerned with expanding its turf than with its nearly 90-year mission to protect American investors. They demonstrate that institutions Bureaucracy at its worst."

Rispoli speculated that the SEC may need to provide more documents to shed light on the events surrounding Hinman's speech, emphasizing that various entities and individuals may be involved in shaping the narrative. This includes exploring communication issues with the SEC staff and understanding why Hinman ignored their advice to not mention Ethereum in his speech. (Cointelegraph)
According to previous reports, newly released documents show that in 2018, former SEC director William Hinman planned to have a call with Ethereum co-founder Vitalik Buterin to understand how the Ethereum Foundation operates in order to "confirm" his position that ETH Not securities.
Hinman argued in a famous speech in 2018 that assets native to the ethereum network do not need to be regulated as securities, a view that Ripple Labs has since frequently cited in its defense of its lawsuit with the SEC. Recently released documents offer a glimpse into the SEC’s internal discussions ahead of Hinman’s speech, in which he suggested that Bitcoin and Ethereum are not securities.