The SEC’s Inspector General is diving into allegations of cryptocurrency-related conflicts of interest, unearthing concerns about the integrity within its ranks. Empower Oversight, a vigilant watchdog, has highlighted these issues, notably pointing fingers at the agency’s past interactions with digital assets like Ethereum.
William Hinman is at the center of this storm, accused of mingling his SEC duties with personal financial interests. His speech, seemingly giving Ethereum a regulatory pass, has sparked an outcry, especially from the Ripple XRP community.
Empower Oversight’s findings reveal Ethereum’s key players, including Joseph Lubin and Vitalik Buterin, might have influenced this pivotal speech.
Empower Oversight is pushing for transparency, threatening to sue the SEC if it doesn’t disclose details of its investigation by Feb. 23. This demand follows a lack of information since their Freedom of Information Act request in May 2023.
The group’s president, Tristan Leavitt, highlights the importance of a thorough inquiry by the OIG to restore public trust in the SEC’s regulatory duties. This pivotal moment could redefine the SEC’s approach to digital assets, underscoring the need for transparency and accountability in its operations.
Also Read: Gensler Says SEC’s January Bitcoin ETF Approval ‘Cabined’
