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Highlights
- Pro-XRP lawyer questions SEC integrity amidst Hinman conflict, highlighting potential bias.
- Empower Oversight demands transparency from the SEC regarding cryptocurrency-related conflicts of interest.
- Concerns raised over former SEC official's ties to Ethereum and XRP.
Bill Morgan, a lawyer advocating for XRP, has expressed significant concerns regarding the Securities and Exchange Commission’s (SEC) integrity. Notably, his remarks follow recent disclosures of an investigation into financial conflicts of interest involving cryptocurrencies within the SEC.
Meanwhile, as this debate evolves, members of the cryptocurrency community are closely monitoring to see if this investigation will result in accountability or merely gloss over the issues.
Pro-XRP Lawyer Shares Concern Over SEC’s Integrity
Bill Morgan, a prominent figure in the XRP community, has expressed skepticism regarding the SEC’s handling of internal investigations. In a recent post on the X platform, he captures the growing sentiment among cryptocurrency enthusiasts, questioning the agency’s integrity. Besides, Morgan’s comment reflects broader concerns about potential conflicts of interest within the SEC, particularly related to its treatment of XRP and other cryptocurrencies.
Meanwhile, in his comment, Morgan raises the question: “Is Hinman finally going to face a reckoning or is it a whitewash?” Notably, this remark alludes to William Hinman, a former senior SEC official, whose actions have come under scrutiny regarding his involvement with Ethereum and XRP.
For context, Hinman’s controversial speech in 2018, where he declared Ether not a security, has been a focal point of criticism, given his ties to a law firm with interests in Ethereum.
Notably, Tristan Leavitt, president of Empower Oversight, an organization at the forefront of demanding transparency from the SEC, underscores the significance of the ongoing investigation. Leavitt emphasizes the need for the SEC’s Office of Inspector General (OIG) to address all raised concerns comprehensively to restore public trust in the agency’s operations.
Also Read: Institutional Investors Pouring Huge Money Into Crypto
Empower Oversight’s Persistence
Empower Oversight’s relentless pursuit of transparency from the SEC has been instrumental in bringing these issues to light. Through Freedom of Information Act (FOIA) requests and legal action, the organization has challenged the SEC’s opacity regarding cryptocurrency-related matters.
In addition, Tristan Leavitt highlights the delays and obstacles encountered in obtaining crucial documents, emphasizing the necessity for the SEC to fulfill its obligations promptly.
Despite facing resistance from the SEC, Empower Oversight remains steadfast in its mission to hold regulatory agencies accountable. The organization’s efforts to uncover potential conflicts of interest and ensure regulatory integrity reflect broader concerns within the cryptocurrency community.
Meanwhile, as the investigation unfolds, stakeholders eagerly await the outcome, hopeful for transparency and accountability within the regulatory landscape.
Also Read: Coinbase CLO Urges WSJ Data Correction After Treasury Clears Hamas Of Crypto Terrorism
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