US SEC Clears Bill Hinman Over Ethereum Speech
The post US SEC Clears Bill Hinman Over Ethereum Speech appeared on BitcoinEthereumNews.com.
The U.S. Securities and Exchange Commission (SEC) has released a redacted report clearing former Corporation Finance Director Bill Hinman of ethics violations during his time at the agency. The review followed a lawsuit filed by watchdog group Empower Oversight, which had requested access to the findings under the Freedom of Information Act (FOIA). The report addresses allegations related to Bill Hinman’s 2018 Ethereum speech, where he publicly stated that Ether was not a security. The SEC’s Office of Inspector General (OIG) concluded that Hinman did not violate internal ethics rules or federal conflict-of-interest laws, despite concerns about his financial ties to his former law firm. The report’s release has renewed discussions surrounding ETH Gate, a term critics use to describe alleged regulatory favoritism and inconsistencies in the SEC’s approach to digital assets. OIG Investigation and Ethics Disclosures Empower Oversight alleged that Bill Hinman had ongoing financial ties to Simpson Thacher & Bartlett LLP (STB), a law firm connected to the Enterprise Ethereum Alliance. The group argued that these ties raised questions about impartiality when Hinman delivered his Ethereum speech in June 2018 at Yahoo Finance’s All Markets Summit: Crypto. According to the OIG report, which came 2 days after the US Senate confirmed Paul Atkins as SEC Chair, Hinman disclosed his financial interest in STB during onboarding and followed the SEC’s Office of Ethics Counsel (OEC) guidance. “We found that at the time of his onboarding at the SEC, Bill Hinman disclosed his financial interest in STB… and took the steps prescribed by SEC ethics officials,” the report stated. It also concluded that his response to a job recruiter by referring them to a partner at STB and his “miscellaneous contacts” with the firm did not breach ethics regulations or guidance provided. Findings on the Ethereum Speech and Internal Pushback The…
Filed under: News - @ April 12, 2025 7:25 am