One of the best-known nonprofit organizations dedicated to anti-corruption is joining the Ripple vs. SEC case. It is demanding that relevant documents be made public. On this occasion, harsh accusations are made against the agency.
Empower Oversight supports XRP supporters
The public deserves declassification of these documents – this is the opinion of Empower Oversight, which demands clear and transparent answers from the SEC. With this, the well-known, anti-corruption nonprofit organization has backed a request by Roslyn Layton of Forbes to declassify William Hinman’s documents.
Standing at the head of Empower Oversight, Jayson Foster points out that the Securities and Exchange Commission is fighting the public interest by keeping the documents secret. In doing so, he raises allegations that, in the case of the SEC, declassifying the documents could reveal a conflict of interest. In his words:
“The SEC has consistently blocked all attempts by public interest transparency organizations, including Empower Oversight, to shed light on conflicts of interest and ethical issues at the agency.”
The aforementioned conflict of interest has been a topic that has been addressed more than once by the XRP community. This time, her words were supported by the assumptions of institutional representatives. The message in support of the proposal appeared on Empower Oversight’s official Twitter profile.
Was Hinman affiliated with Ethereum?
Despite the many difficulties in conducting the investigation, Empower Oversight representatives managed to reveal that Hinman should not qualify Ethereum as an asset that is not a security. However, his opinions may have been influenced by his dealings with an ETH-related firm like Simpson Thacher & Bartlett. Moreover, Hinman at the time was said to have undisclosed financial interests with that company. This thread is so problematic, complex and, above all, suspicious that it is interpreted by the company, as well as XRP hodlers, as the aforementioned conflict of interest. By virtue of the fact that Hinman held an important office in the Commission at the time, she herself necessarily appears to be implicated here. The unwillingness to disclose documents supporting Hinman’s historic 2018 statement may even indicate impure SEC interests.
Ripple vs. SEC – when will the litigation end?
The case, which has dragged on for more than two years, is still unresolved. Predictions as to its conclusion are also endless. One of the lawyers, and at the same time a party to the litigation, siding with XRP hodlers, John Deaton, predicted that the finale could still take place before March 31 of this year. Of a slightly different opinion is Ripple CEO Brad Garlinghouse, who in a recent interview hinted at the likelihood of a resolution of the conflict in the coming months. Perhaps Empower Oversight’s commitment and tough stance will speed up the process.