Due To Ethereum Bias: Govt. Watchdog Sues SEC Over ‘ETH Gate’
Empower Oversight sued the SEC for not complying with a FOIA request regarding potential biases in regulating cryptocurrencies, particularly Ethereum. The lawsuit focuses on former SEC figures' actions and speeches, including William Hinman's statement that Ethereum was not a security. Empower Oversight's investigation was prompted by concerns about conflicts of interest and ethical violations within the SEC. Despite the SEC's initial agreement to search for records, it has been accused of stalling. Empower Oversight's persistent legal efforts have resulted in the SEC turning over 324 pages of documents. The latest lawsuit seeks to enforce compliance with the FOIA request. The lawsuit aims to uncover potential conflicts of interest and selective enforcement within the SEC, influencing future regulatory policies and the digital asset regulation landscape. Ethereum traded at $3,376 at the time of the article.
