In a recent live video, John Deaton, the founder and host of Crypto Law, made a significant appeal for transparency by urging the Securities and Exchange Commission (SEC) to release the much-anticipated report on the 2018 speech by former SEC official William Hinman. This speech, which notably gave Ethereum a regulatory pass, has sparked widespread concerns about potential conflicts of interest within the SEC.
Understanding the Controversy
The controversy stems from a request by Empower Oversight, an independent watchdog organization, which asked the Office of the Inspector General (OIG) to examine possible conflicts of interest associated with Hinman’s speech. The investigation has been concluded, and the report has been forwarded to SEC Chairman Gary Gensler. However, the report has not yet been made available to the public, leading to growing frustration and anticipation.
Deaton’s Appeal to the SEC
In light of the ongoing delay, Deaton, who represents a significant number of XRP holders in the Ripple case, took direct action by contacting the SEC Chairman’s Office. In a respectful yet assertive message, he urged Gensler to make the report public within the next 10 days. Deaton emphasized that the report’s findings are of substantial public interest, particularly for 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.”
A United Call for Action
Deaton is actively encouraging others to join him in advocating for transparency. He has called upon the public to reach out to the SEC, either by phone or email, to demand the report’s release. The objective is to convey a strong message that the public deserves access to this information.
The urgency of this matter is underscored by the fact that Gary Gensler is set to resign as SEC Chairman on January 20, coinciding with Donald Trump’s inauguration. Paul Atkins is slated to assume the role of the new SEC head. As this deadline looms, the cryptocurrency community is coming together to press for the release of the Hinman report, emphasizing the importance of governmental accountability in regulatory actions.
This collective effort highlights the growing demand for transparency and accountability from regulatory bodies. The outcome of this push could set a precedent for how future regulatory matters are handled, particularly in the rapidly evolving world of cryptocurrency. As the community awaits the SEC’s response, the call for transparency remains a powerful testament to the public’s right to information.
