Former SEC Chief of the Division of Corporation Finance's comments on Ethereum not being a security removed from SEC website

William Hinman emphasized during his public speech at the 2018 Yahoo Finance summit that Ethereum does not fall under the category of securities based on the Howey Test criteria. This statement contradicts the current stance of the SEC and has been cited by Ripple in their legal battle with the SEC. Interestingly, Hinman's personal background has been removed from the SEC's website. Is the SEC trying to eliminate relevant evidence?

Who is William Hinman?

According to the SEC's profile page, Hinman served as the Director of the Division of Corporation Finance at the SEC from 2017 to 2020. This is the only information retained about Hinman, as his previous personal and professional background has been deleted.

As recorded on February 9th this year by the Wayback Machine, the SEC detailed Hinman's career history, including his membership in the California Bar Association, the New York Bar Association, and the American Bar Foundation.

In contrast to the former SEC Director of Corporation Finance Renee Jones and former Chairman Jay Clayton, whose personal profiles still contain their complete educational and professional backgrounds.

Key Public Statement by William Hinman: Ethereum is not a Security

In a public speech at the 2018 Yahoo Finance All Markets Summit, William Hinman stated that, under the Howey Test standard, Ethereum does not fall under the category of securities.

The good news is that Hinman's speech has not been taken down and can still be found on the SEC website; this speech was also brought up by House Financial Services Committee Chairman Patrick McHenry during a mid-April hearing, questioning SEC Chairman Gensler.

Since taking office, Gary Gensler has repeatedly emphasized that everything other than Bitcoin is considered a security, which is in stark contrast to William Hinman's understanding. This demonstrates internal contradictions within the SEC regarding securities classification, making it difficult for crypto businesses to find clear guidelines to follow.

Hinman's statement that "Ethereum is not a security" has been used by Ripple as evidence in their lawsuit against the SEC. The SEC's lawsuit against Ripple is nearing its three-year deadline without a clear victory for the SEC, leading to speculation about whether the SEC's removal of Hinman's data is related to the ongoing lawsuit.