SEC Inspector General Report Demanded Amid Allegations of Unfair Treatment and Favoritism

Pressure Mounts on Gensler to Release IG Report as New Letter Exposes XRP’s Unfair Treatment and Ethereum’s Free Pass

In a shocking revelation, Empower Oversight has called upon Congress to release an SEC inspector general report that may expose the unfair treatment of Ripple (XRP) while giving Ethereum a free pass. The nonprofit group focused on government accountability is demanding transparency in the matter.

The investigation reportedly centers around allegations that former SEC Chairman Jay Clayton and William Hinman, Director of the SEC’s Division of Corporation Finance, may have taken actions against XRP due to their personal interests. This comes amid an ongoing lawsuit between Ripple and the Securities Exchange Commission (SEC).

A 22-page letter written by Tristan Leavitt has shed more light on this controversy. In the document, he highlights the unfair treatment of XRP compared to Ethereum. The letter emphasizes that there is no material distinction between the two cryptocurrencies in terms of their operation, raising fairness questions.

It’s worth noting that Ripple was slapped with a lawsuit by the SEC for selling $1.3 billion worth of XRP as unregistered securities. This move has been deemed problematic by even an SEC commissioner.

Source: coinpedia.org