24/7 Cryptocurrency News

Empower Oversight Sues US SEC Over Selective Enforcement On Crypto

Empower Oversight filed a complaint against US Securities and Exchange Commission (SEC) over alleged selective enforcement on crypto market.
Published by
Empower Oversight Sues US SEC Over Selective Enforcement On Crypto

Crypto Market News: Empower Oversight Whistleblowers & Research (EMPOWR), an organization focused on enhancing independent oversight, on Thursday filed a complaint against the US Securities and Exchange Commission (SEC) over alleged selective enforcement on crypto market businesses by top agency officials. The organization filed a complaint in the United States District Court for the District of Columbia seeking to compel the SEC to comply with a December 2022 Freedom of Information Act (FOIA) request regarding conflicts of interest by high level officials in the agency.

Also Read: Binance Cuts ETH Staking Withdrawal Time, Will Prices Go Down?

This complaint comes at a time when the regulatory agency faces criticism from not just crypto trader communities but also top lawmakers in the United States. Recently, Patrick McHenry, Chairman of the House Financial Services Committee, said to SEC Chair Gary Gensler that there was clearly no clarity on regulation for crypto related activities in the US.

Advertisement

All Internal Commications Regarding Cryptocurrencies

The complaint pertains to an August 2021 request from Empower Oversight that sought “all communications between senior SEC officials and their former and future employers and related entities regarding cryptocurrencies.” A statement from the organization said former senior SEC official William Hinman received money in compensation from his former employer Simpson Thacher, was part of a group that promoted Ethereum. Hinman had publicly declared Ethereum (ETH) was not a security while the SEC has been referring to ETH and the other similar cryptocurrencies as unregistered securities, the statement explained.

Hence, the allegation is that there was possibility of conflict of interest between the SEC officials, which explains the request for communications.

Also Read: Do Kwon Pleads Not Guilty To Allegations of Using Fake Passport

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force

The Bitcoin price has hit a new all-time high, after staging a monstrous rally since…

October 5, 2025
  • Bitcoin News

99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction

Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…

October 5, 2025
  • 24/7 Cryptocurrency News

Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement

Pro-crypto Mike Selig is reportedly the frontrunner to become the next chair of the U.S.…

October 4, 2025
  • 24/7 Cryptocurrency News

‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications

Nate Geraci, president of Novadius Wealth Management, has predicted that several crypto ETF filings could…

October 4, 2025
  • Bitcoin News

Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model

Bitcoin-backed stocks of Strategy can now be accessed on Robinhood. This represents a significant move…

October 4, 2025
  • Bitcoin News

Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH

The Bitcoin ETFs have seen a huge turnaround this week, recording their largest weekly inflows…

October 4, 2025