Empower Oversight Whistleblowers & Research has obtained the SEC's report on former top official William Hinman. The Inspector General's Office found no criminal violations.
Overview of SEC Report
The Office of Inspector General (OIG) confirmed in its report that William Hinman's 2018 speech, in which he stated that Ethereum (ETH) is not a security, did not violate the agency's ethics rules.
Hinman's Speech and Its Implications
The OIG determined that Hinman's controversial speech had no 'direct and predictable' effect on his financial interests. According to the OIG, Hinman did not have any vested interest in the classification of Ether and did not own cryptocurrency, as stated in his 2021 testimony.
Criticism from Empower Oversight
Empower Oversight criticized the report for being too narrowly focused on criminal conflicts of interest. They also noted that Hinman's speech was 'collaboratively drafted,' highlighting the lack of individual opinion.
Thus, the Inspector General's investigation leaves open the issue of larger ethical and legal implications regarding Hinman's role in the SEC and his influence on cryptocurrency regulation.
