The United States Securities and Exchange Commission (SEC) is facing allegations of conflicts of interest in its ongoing lawsuit with Ripple Labs. Two senior SEC officials who were part of the XRP lawsuit left the commission shortly after the regulator filed the suit against Ripple. Marc Berger, the former Acting Enforcement Director of the SEC, and Dalia Blass, the former Division of Investment Management and Investment Management Policy, both left the commission and joined law firms. This has raised questions about the SEC’s impartiality in its enforcement actions, especially in the crypto industry. Kraken, Binance, and Coinbase have all been charged with various violations of securities laws. Binance was charged with misleading investors and regulators, flouting KYC rules, and mishandling customer funds. The SEC’s unrelenting crackdown has led to speculation that there may be an ulterior motive in the Ripple lawsuit. Furthermore, Empower Oversight has claimed that former SEC Director of Corporate Finance William Hinman made a statement that Ethereum (ETH) and its transactions are not securities, which could suggest a conflict of interest and bias towards Ethereum.

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Information	Details
Geography	North America
Countries	🇺🇸 🇸🇬
Sentiment	negative
Relevance Score	8
People	Jay Clayton, Dalia Blass, Marc Berger, Analisa Torres, William Hinman
Companies	Simpson Thacher, Empower Oversight, Ropes & Gray LLP, SEC, Sullivan & Cromwell LLP
Currencies	Bitcoin, Ethereum, XRP, US Dollar
Securities	None