Attorney John Deaton is urging the US Securities and Exchange Commission (SEC) to release the IG report on William Hinman’s Ethereum speech, highlighting the importance of transparency in crypto regulation.
Demand for SEC Transparency
John Deaton demands the public release of SEC’s internal discussions surrounding Hinman’s statement that led to the XRP investigations. He believes the report will provide clarity on whether Ethereum was favored over other digital assets.
Background of Hinman Statement
In 2018, William Hinman stated that Ethereum was not a security, influencing the SEC's classification of cryptocurrencies. This led to a lawsuit against Ripple, accused of trading XRP as an unlicensed security. The crypto community accuses the SEC of favoritism and demands fair regulation.
Pressure on SEC and Implications
Deaton argues that SEC's refusal to disclose the report questions the agency’s integrity and impartiality. Insiders like Paul Atkins, Mark Uyeda, and Hester Peirce advocate for transparency. Pressure is mounting on the SEC as the report could bring significant changes to the regulatory process.
Ongoing pressure and criticism from attorneys, investors, and the public push the SEC to reconsider its transparency policy. Only time will tell how this will affect future crypto regulation.
