Chairman of the U.S. House Financial Services Committee: SEC Chairman Misled Congress on Ethereum Classification Issues

2024-05-01 09:34:51

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ChainCatcher News, U.S. House Financial Services Committee Chairman Patrick McHenry accused Securities and Exchange Commission (SEC) Chairman Gary Gensler of making misleading statements to Congress regarding the classification of Ethereum (ETH).

McHenry stated on social media that Gensler refused to answer questions about how the SEC defines Ethereum during a congressional hearing, but new court documents reveal that the SEC intentionally attempted to distort its position.

It is reported that the lawsuit documents recently filed by Consensys against the SEC disclose that just days before Gensler testified in April 2023, the SEC had already begun investigating the nature of Ethereum. Currently, the SEC has not responded to McHenry's allegations. Industry lawyers point out that the SEC's investigation into whether a project violates federal securities laws does not equate to establishing a policy position.

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