In a recent live broadcast, John Deaton, the founder and host of Crypto Law, has made a compelling plea to the U.S. Securities and Exchange Commission (SEC) to publicize the eagerly awaited report concerning the controversial 2018 speech delivered by former SEC official William Hinman. This speech, which effectively granted Ethereum a regulatory green light, has sparked significant concerns about potential conflicts of interest within the SEC.
The Issue at Hand
Empower Oversight, an independent watchdog organization, had previously requested the Office of the Inspector General (OIG) to delve into possible conflicts of interest stemming from Hinman’s speech. This investigation has reached its conclusion, and the resulting report has been forwarded to SEC Chairman Gary Gensler. However, it still remains under wraps, inaccessible to the public.
Deaton’s Appeal to the SEC
Amidst growing frustration over the report’s delayed release, Deaton, who is advocating on behalf of 75,000 XRP holders in the ongoing Ripple case, took proactive measures. He reached out directly to the SEC Chairman’s Office, delivering a message that was both respectful and resolute. In his communication, he urged Chairman Gensler to make the report public within a 10-day timeframe. Deaton emphasized the substantial public interest surrounding the report, particularly among those closely following the Ripple case.
Deaton articulated his stance clearly, stating: “This is a respectful request for you to release the report to the public. 75,000 XRP holders are waiting for this.”
A Broader Call to Action
In a bid to amplify the demand for transparency, Deaton encouraged others to join his efforts. He urged individuals to either call the SEC or send emails requesting the report’s release. This collective action aims to underscore the public’s right to understand the contents of the report.
As the clock ticks toward the transition of SEC leadership, with Gary Gensler set to resign as Chairman on January 20—coinciding with Donald Trump’s inauguration—and Paul Atkins poised to assume the role, the crypto community finds itself at a pivotal juncture. There is a unified effort to persuade the SEC to disclose the Hinman report and ensure that governmental actions are subjected to public scrutiny and accountability.
In conclusion, the call for transparency resonates deeply within the crypto community, reflecting a broader demand for openness and integrity in regulatory practices. As stakeholders rally together, the hope is that these concerted efforts will yield the desired outcome, fostering a more transparent and accountable regulatory environment.
