BitBoy Claims Previous SEC Supervisor Accepted Payments To Turn ETH Into Commodity

In the midst of a protracted legal dispute where the US Securities and Exchange Commission is suing blockchain company Ripple over the unauthorized sale of XRP tokens, fresh allegations have been made against the watchdog.

In fact, William Hinman, the former director of the SEC, was chastised by Ben Armstrong, the man behind the “BitBoy Crypto” YouTube channel, for allegedly receiving bribes to declare Ethereum (ETH) a commodity in his tweet on October 9.

William Hinman “definitely accepted bribes,” he claimed. It’s obvious. Nevertheless, he also stated that he “refuses to take sides” and that his “3 biggest holdings are XRP, ADA, & ETH. They all triumph.

Clarity in regulation is required in this area

Armstrong cited the remarks made by Cardano (ADA) founder Charles Hoskinson in support of his charges. Hoskinson had already addressed this issue in a series of tweets. He said, among other things, that Ripple should concentrate on advocating for more regulatory clarity rather than alleging that the SEC was bought off to ignore Ethereum:

“Analyzing the allegations of corruption seems to imply that Ethereum should also be sued by the SEC but wasn’t because of relationships. But how does this in any way solve the larger issue of cryptocurrencies being forced into a framework that makes no sense?”

SEC tries to obfuscate Hinman’s comments regarding ETH

The regulator’s attempt to conceal the records pertaining to former Division Director William Hinman was rejected by a US judge in the SEC v. Ripple lawsuit. These records refer to his 2018 summit speech, in which he claimed that Ethereum and Bitcoin (BTC) were not securities.

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