The highly anticipated public release of the speech and emails of William Hinman, a former Director at the U.S. SEC, had generated a lot of buzz in the industry. When the documents were finally released this Tuesday, it became clear why. Hinman had, in the most unequivocal terms, stated in his communications that crypto tokens like XRP (XRP) could not be considered securities. Following the release of the documents, Ripple’s CEO was reportedly quoted saying, “…I believe they were well worth the wait.”
The public release of the documents triggered a fresh wave of buying activity on XRP (XRP). It would be interesting to see how the event cascades across the crypto world.
XRP (XRP)
Hinman’s statement from the published documents read, “Applying the disclosure regime of the federal securities laws to the offer and resale of Bitcoin would seem to add little value. And putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions.”
His open admission that the cryptos were not securities bores a crater-sized hole in SEC’s case against XRP (XRP). Although it’s too early to celebrate XRP’s (XRP) win in the lawsuit, the winds appear to have shifted in their favor. In fact, the SEC vs XRP (XRP) lawsuit is expected to reach its conclusion in a matter of weeks now, instead of months. Expectations abound, and XRP (XRP) has been trading at a premium for the past 24 hours. XRP (XRP) may finally break out sometime this year.
TMS Network (TMSN)
International cryptos like TMS Network (TMSN) have been avoiding the U.S. crypto market for quite some time now, fearing regulatory uncertainty. This has affected the quality of crypto innovation coming out of the U.S. and also their adoption by mainstream organizations to overcome the trad-Fi limitations. Hinman documents are a vindication for the entire industry that’s been arguing in favor of deregulation of the crypto industry. With the lawsuit tilting in favor of XRP (XRP), cryptos like TMS Network (TMSN) could finally expand their operations to the U.S. too. That would be a big wing for the industry and the tokens.
Presently, TMS Network (TMSN) is in the middle of an ICO. With TMS Network (TMSN) token valued at $0.11 in the stage 4 presale, expansion into the U.S. could give it an immediate boost of 200% to 300%.
TMS Network (TMSN) is a new decentralized exchange that offers cryptos, CFDs, forex, and stocks for trading. The arrival of DeFi solutions for equity traders marks a new beginning for the trading community.
Binance (BNB)
Centralized exchanges like Binance (BNB) are one of the biggest beneficiaries of regulatory uncertainty. According to a recent lawsuit, Binance (BNB) has helped its users flout U.S. laws to trade on its platform. With DEXs like TMS Network (TMSN) summarily ignoring markets with high uncertainty, owing to decentralized voting mechanisms, CEXs like Binance (BNB) flirt with the law to continue to serve such markets. This allows them to command an inordinate share of the market. As regulatory uncertainties disappear, Binance’s (BNB) market share will erode. This gives captive market customers better services.
So, the public release of Hinman documents is a huge win for DeFi projects like TMS Network (TMSN) and an equally big loss for centralized cryptos like Binance (BNB). Binance (BNB) is already on the downtrend owing to lawsuits levied against it by U.S. regulators. The Hinman documents’ release is another big blow to it. Binance (BNB) would be a risky investment, at least through the year. Binance (BNB) holders are understandably jumping ship.
Join the Presale:
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/TMSNetworkIO
Twitter: https://twitter.com/@tmsnetwork_io
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
