• The organization Empower Oversight Whistleblowers & Research (EMPOWR) is supporting the motion to intervene in the Ripple Labs and SEC lawsuit, as it seeks public access to the Hinman speech documents.
• Jason Foster, founder and president of EMPOWR, believes that the SEC has been stonewalling attempts from transparency organizations to get access to information related to conflicts of interest and ethical questions at the agency.
• Dr. Roslyn Layton argues that this case could decide the future of cryptocurrencies in the United States by serving as a legal referendum on the SEC’s system of regulation.
Support for Dr. Roslyn Layton’s Motion
Forbes journalist Dr. Roslyn Layton is receiving support for her motion to intervene in the lawsuit between Ripple Labs and the Securities Exchange Commission (SEC). The government watchdog organization Empower Oversight Whistleblowers & Research (EMPOWR) is expressing its support for her motion seeking public access to documents related to an important speech given by former Director William Hinman.
The Mission of EMPOWR
EMPOWR is a nonprofit, nonpartisan organization with a mission to help insiders document and report corruption to appropriate authorities. Founder and president Jason Foster stated via Twitter that his organization supports Dr. Layton’s motion regarding access to documents related to SEC conflicts of interest in cryptocurrencies. He further argued that members of the public deserve answers from the SEC about what exactly they knew about Hinman’s speech and when they knew it.
Empower Oversight Takes Action
In August 2021, Empower Oversight made a request which is still subject of an ongoing Freedom of Information Act (FOIA) lawsuit against the SEC; however, it was ignored by them agency at that time. Last October, Empower Oversight filed its opposition against SEC’s motion for summary judgment in FOIA lawsuit over documents related selective enforcement in cryptocurrency cases; then again in December 2020, they filed another records request with full records communications with list of names from them agency.
The Ripple Case Could Decide Crypto’s Future In US
Dr Roslyn Layton argued that this case between Ripple Labs and Securities Exchange Commission will serve as legal referendum on SEC’s entire system regulation; hence deciding future cryptocurrencies United States accordingly; due her opinion regarding importance this case has had ripple effect among many organizations including EMPOWR who share same view on matter thus have supported intervention by providing evidence back their points help give more authority former’s arguments are based upon before court makes final decision imminent future current state situation unclear what will come out these proceedings yet be determined whether crypto industry can flourish without restrictions imposed upon them agencies like aforementioned one or not right now only thing we know sure that events like these will depend heavily decisions made courts therefore must pay close attention whole story unfold eventually reaching verdict after all parties involved presented their respective sides argumentation during hearings process comes end few months down line until then speculation fate remain uncertain but everyone hoping most positive outcome possible through these proceedings regardless result turn out be course action taken here could set precedent other states follow similar paths if decides favor latter otherwise would set different tone altogether since such matters were never dealt before worldwide basis hence expecting something happens first major nation pave way other countries around world take example either following suit same regulations applied here or creating own individual laws independent each other which may vary according country particular jurisdiction resides under matters discussed above due fact multiple factors need taken consideration before any type decision making nevertheless hope best both sides indeed!
Conclusion
It remains unclear what will emerge from these proceedings but it is certain events like these will rely heavily on decisions made by courts so all parties must pay close attention until a verdict is reached after all parties present their arguments during hearings process when it comes to an end within few months form now until then speculations about fate remain uncertain but everyone hopes for most positive outcome possible through these proceedings regardless of result which turns out be because course action taken here could set precedent for other states follow similar paths if decides favor latter otherwise would set different tone altogether since such matters were never dealt with before on worldwide basis hence expecting something happens first major nation pave way other countries around world take example either following suit same regulations applied here or creating own individual laws independent each other which may vary according country particular jurisdiction resides under matters discussed above due fact multiple factors need taken into consideration before any type decision making nevertheless hope best both sides indeed!