John Deaton Demands Hinman Report Release as SEC Faces Transparency Questions in Crypto Case 

Crypto lawyer John Deaton is pressuring the SEC to dismiss the Hinman Report, a document of findings on the 2018 Ethereum speech of the SEC official William Hinman. In the speech, Hinman declared that Ether (ETH) was not a security, and most believe that this worked unfairly in Ethereum’s favor at the expense of competitors like XRP.

Critics point out that Hinman’s affiliations with Simpson Thacher, a law firm that has associations with the Enterprise Ethereum Alliance, are a serious issue about a conflict of interest inquiry, which could reach the XRP case and overall crypto regulation transparency.

SEC’s Silence and Deaton’s 10-Day Ultimatum

In a recent X post, John Deaton urged SEC Chairman Gary Gensler to release the Hinman report within 10 days. He stressed that the crypto space, especially XRP case stakeholders, deserves transparency in the SEC’s process of deciding.

We need to finish cleaning up the industry with full transparency of past transgressions including the @SECGov releasing the IG Report related to Bill Hinman and his infamous “Ether Speech” (his words, not mine). The investigation was conducted by the IG after it was recommended… https://t.co/UMGRFO26R7

— John E Deaton (@JohnEDeaton1) March 29, 2025

Deaton’s push has ignited discussions across the crypto industry. If the Hinman report release reveals misconduct, it could be pivotal in the SEC vs. Ripple legal battle and expose regulatory inconsistencies in the SEC’s classification of digital assets.

The Ripple Case and Its Regulatory Impact

The XRP case against Ripple Labs is a defining moment for crypto regulation transparency. Many argue that Hinman’s Ethereum speech gave an unfair regulatory advantage to Ethereum, while Ripple’s XRP was classified as an unregistered security.

If the Hinman report release substantiates bias, it would have a profound influence on Ripple’s defense and compel the SEC to re-evaluate its crypto classification policy. The report could influence Congress and financial regulators in drafting future crypto legislation.

Potential Ripple Effects on Crypto Regulations

The Hinman report release could reshape regulatory frameworks by revealing SEC decision-making insights. If it exposes favoritism, it may prompt calls for structured regulatory policies, benefiting crypto firms by reducing classification uncertainty.

Many crypto advocates argue that the SEC should provide clearer guidance rather than rely on enforcement actions. Another significant issue is the worldwide effect of transparency in crypto regulation. If the SEC is determined to have studied discriminatory enforcement, it would affect worldwide crypto policies since most countries refer to the U.S. for regulatory leadership.

Legal and Financial Implications

A release of the Hinman report confirming misconduct could strengthen Ripple’s case, potentially leading to legal consequences for those involved in past SEC decisions. It might also prompt other crypto firms to appeal SEC decisions, making it more likely for the courts to intervene in crypto regulations.

From a market point of view, the crypto market is very responsive to regulatory moves. If the Hinman report release reveals misconduct, it can cause market volatility, especially for XRP and Ethereum. Alternatively, higher levels of regulatory openness might increase the confidence of investors in crypto markets.

Final Thoughts: The Future of Crypto Regulation Transparency

The Hinman report release is more than just a legal issue. It could set an example for how crypto assets are regulated in the U.S. Compliance could signal a shift toward fairer regulations, while failure to act may lead to legal and public pressure from crypto advocates.

This has sparked renewed arguments over government accountability in financial regulations. Most people think regulatory agencies such as the SEC operate with complete openness, with their decisions reflecting the best interests of the public.

With the Ethereum speech controversies and the XRP case at a critical point, the crypto industry eagerly awaits the SEC’s next move. Will transparency prevail, or will regulatory uncertainty continue? The Hinman report release might be the key to uncovering the truth.

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