Enabling supervision suits SEC for blocking the report on encryption

Empower Leseright has filed a lawsuit against the US Securities and Stock Exchange Committee (SEC) to obtain the final report on the Agency’s decision -making regarding coding issues.

The Office of the Inspector General has completed the Securities and Stock Exchange Committee (SEC Oig) the report more than a year ago, but the agency has not yet revealed or submitted relevant documents despite receiving multiple requests for information freedom law (FOIA).

Conflict of interests and the delay of the report

According to February 4 presentationThe case requires the issuance of a long -awaited report on moral conflicts and selective implementation within the agency. The lawsuit also seeks to obtain relevant documents on former SEC official William Heinmann, who was at the Center for Business Conflict.

He claims that Henman, the former director of the organizer’s Corporation Finance, received payments from the former law firm, while affecting the decisions of enforcement on encryption.

“The silent and tiring SEC treatment is old and tired, and it refused to issue these records, in full frankness, suspicious,” said Treistan Levitte, President of the Empowerment Company.

He added that transparency and honesty can significantly address extensive and legitimate concerns about the behavior of the International Financial Supervision Agency and the accountability of its officials about their role in the controversy.

The Supreme Education Council has long faced criticism of its method of encryption. Critics argue that it was very inconsistent and aggressive, and it targets specific companies and projects while leaving others. Many industry leaders, including Coinbase, who filed a lawsuit against the agency for its failure to file clear regulatory guidelines.

Gary Gainler, former SEC president, faced a violent reaction to the leadership of many viability against the main encryption companies including Coinbase and Ripple. Many critics argued that his approach was very harsh and created uncertainty in the sector.

Years of delayed transparency and communication

Since August 2021, Empower Secorroight has pressured the Supreme Education Council for more transparency on decisions on encryption cases.

The organization initially submitted FOIA to communicate between SEC officials and external entities and later sued the agency in December 2021 to impose compliance. Similar measures have also been taken in an attempt to reveal a possible conflict in the interests involved William Heinman.

Over the years, multiple lawsuits were submitted that challenge the committee’s reluctance to release the documents. This includes the cases that appeared in May 2023 and March 2024 due to the delay in responses.

The non -profit organization also sought records related to the role of former SEC president, Jay Clayton, in regulating digital assets. In June and July 2024, SEC-OIG also urged its report on conflicting interests and concerns about selective implementation practices.

By late 2024, the organization called for the supervision of Congress and submitted additional FOIA requests for the final Oig report. However, SEC continued to delay the responses, which led to the latest deposit.