Ibahagi ang artikulong ito
Hinman Documents Release in SEC-Ripple Case Is a Boost to Ether: JPMorgan
The documents are likely to intensify the move among major cryptocurrencies to become more decentralized and look more like ether, the report said.
Hun 19, 2023, 7:52 a.m. Isinalin ng AI
Make us preferred on Google
The release of the Hinman papers last week in the U.S. Securities and Exchange Commission’s (SEC) case against Ripple is a boost to ether , and is likely to trigger a move to more decentralization in the crypto market, JPMorgan (JPM) said in a research report Thursday.
Emails tied to former Director of Corporation Finance William Hinman’s 2018 speech saying ether did not look like a security were published last Tuesday by Ripple in its defense against an SEC lawsuit.
STORY CONTINUES BELOW
Huwag palampasin ang isa pang kuwento.Mag-subscribe sa State of Crypto Newsletter ngayon. Tingnan lahat ng newsletter
Senior leadership at the SEC did not rank ether as a security in 2018, the report noted, and SEC officials acknowledged that the “fact that tokens on a sufficiently decentralized network are no longer securities creates a regulatory gap.”
“The speech acknowledges that there is an other category,” analysts led by Nikolaos Panigirtzoglou wrote, adding that “it is not a security because there is no controlling group (at least in the Howey sense) yet there may be a need for regulation to protect purchasers.”
Panigirtzoglou was referring to the Howey Test, which is used to determine which transactions qualify as investment contracts and thus subject to U.S. securities laws. An asset can be classed as a security if there is an investment of money in a common enterprise and the expectation of profits derived from the efforts of others.
JPMorgan says these revelations could explain why the regulator has not taken action against ether while targeting other crypto tokens this year.
“The Hinman documents are likely to influence the direction of the current U.S. congressional effort to regulate the crypto industry in a way that ether would avoid being designated as a security,” the analysts wrote.
The easiest solution for Congress would be to put ether in the same category as bitcoin , and regulate it as a commodity under the oversight of the Commodity Futures Trading Commission (CFTC).
A new “other category” could be introduced specific to ether and other cryptocurrencies that are decentralized enough to avoid being classed as securities, the bank said, adding that the “more decentralized a cryptocurrency is the higher its chance that it would avoid being designated as a security.”
The Hinman documents will probably intensify the race among major cryptocurrencies to become more decentralized and look more like ether, the report said.
Higit pang Para sa Iyo
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ano ang dapat malaman:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
Higit pang Para sa Iyo
Ukraine banned Polymarket and there’s no legal way for it to come back
Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
Ano ang dapat malaman:
- Ukraine has no legal framework for Web3 prediction markets, and current legislation provides no recognition for such platforms.
- Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
- Legal changes are unlikely in the near future, as Parliamentary revisions to gambling definitions are extremely improbable during wartime, leaving prediction markets in a legal deadlock.
Top Stories
