Attorney John Deaton Calls for SEC to Release Hinman's 2018 "Ether Speech" Report

John Deaton, a prominent attorney known for his advocacy in the XRP case, has called on the US Securities and Exchange Commission (SEC) to release the Inspector General (IG) report on William Hinman's 2018 "Ether Speech." This speech, delivered by the former Director of the SEC's Division of Corporation Finance, sparked controversy by stating that Ethereum's Ether token was not a security, a statement that has since been scrutinized for potential conflicts of interest.
Deaton's request for transparency is rooted in the belief that the public has a right to know the findings of the investigation into Hinman's speech. He argues that releasing the IG report is essential for understanding whether regulatory decisions were made impartially and for ensuring transparency in regulatory actions. Deaton has specifically urged new SEC Chair Paul Atkins, along with key officials Mark Udeya and Hester Peirce, to support making the report public.
The controversy surrounding Hinman's speech stems from allegations of a potential conflict of interest, as Hinman had ties to Simpson Thacher & Bartlett, a law firm with significant involvement in the crypto industry. This has led to questions about the impartiality of the SEC's regulatory decisions and the need for greater transparency in how the agency approaches crypto classification.
Deaton's call for transparency comes at a time when the SEC has been shifting towards a more progressive stance on crypto regulations. The agency has recently dropped lawsuits against multiple crypto firms, which has sparked speculation that they may be more open to addressing Deaton's concerns.
The release of the IG report could provide much-needed clarity on the SEC's approach to crypto classification and regulatory actions. It would also help to address the ambiguities surrounding the roles of various altcoins, such as XRP and SOL, within the regulatory framework. Deaton has previously asserted that the SEC itself has not been involved in clarifying these roles, further emphasizing the need for transparency.
In summary, John Deaton's call for the release of the IG report on William Hinman's "Ether Speech" is a significant step towards greater transparency in crypto regulations. The public release of this report could help to ensure that regulatory decisions are made impartially and provide clarity on the SEC's approach to crypto classification. As the SEC continues to navigate the complex landscape of crypto regulations, Deaton's call for transparency serves as a reminder of the importance of accountability and openness in regulatory actions.

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