In a recent live stream, John Deaton, the creator and host of Crypto Law, made a compelling call for the Securities and Exchange Commission (SEC) to unveil the eagerly awaited report concerning the contentious 2018 address delivered by former SEC official William Hinman. This speech, which notably granted Ethereum a regulatory clearance, has sparked significant concerns about possible conflicts of interest within the SEC.
Understanding the Core Issue
Empower Oversight, a vigilant independent watchdog, formally requested the Office of the Inspector General (OIG) to delve into potential conflicts of interest linked to Hinman’s speech. The investigation has reached its conclusion, and the findings have been forwarded to SEC Chairman Gary Gensler. However, the report has not yet been publicly disclosed, leaving many stakeholders in anticipation.
Deaton’s Plea to the SEC
In light of the delay in releasing the report, Deaton, who represents a substantial group of 75,000 XRP holders in the ongoing Ripple litigation, took proactive steps. He directly contacted the SEC Chairman’s Office, delivering a firm yet respectful request to Chairman Gensler for the publication of the report within a span of 10 days. Deaton underscored the public interest in the report’s findings, particularly among those closely following the Ripple case.
Deaton’s message was unequivocal:
“This is a respectful request for you to release the report to the public. 75,000 XRP holders are waiting for this.”
Advocating for Transparency
Deaton urged the wider community to join him in advocating for transparency. He encouraged individuals to either call or email the SEC, requesting the release of the report. The objective is to convey a robust message that the public has a right to be informed about the contents of the report.
As the deadline looms, it’s important to note that Gary Gensler is set to step down as SEC Chairman on January 20, coinciding with the inauguration day of Donald Trump. Paul Atkins is slated to assume the role as the new head of the SEC. With this transition on the horizon, the crypto community is uniting in a concerted effort to prompt the SEC to disclose the Hinman report, thereby ensuring accountability in governmental actions.
By increasing awareness and participation, stakeholders hope to foster a culture of transparency and accountability within regulatory frameworks, ultimately benefiting the entire cryptocurrency ecosystem.
