SEC Chief Gary Gensler Misled Congress On Ethereum, Says Crypto-Friendly Rep. Patrick McHenry ⋆ ZyCrypto
crypto Ethereum SEC Chief Gary Gensler Misled Congress On Ethereum, Says Crypto-Friendly Rep. Patrick McHenry ⋆ ZyCrypto Balita ng Ethereum ng Bitcoin Rep. Patrick McHenry, a staunch advocate for the crypto industry, joined the escalating warfare between U.S. financial regulators and the cryptocurrency sector on April 30, accusing Securities and Exchange Commission (SEC) Chairman Gary Gensler of having “knowingly misled Congress” on the commissions position on Ethereum. According to Patrick McHenry, the SEC already knew it deemed ether a security before Gensler attended a congressional hearing and dodged direct questions on whether Ether fell under the SEC‘s or the Commodity Futures Trading Commission’s (CFTC) purview. “Chair Gensler refused to answer questions regarding the SEC‘s classification of ether,” House Financial Services Committee chairman McHenry said in a pahayag posted on X. “New court filings show this was an intentional attempt to misrepresent the commission’s position.” The chairmans comments follow the disclosure that the SEC has internally believed Ethereum (ETH) has been an unregistered security since 2023, as per unredacted sections of a lawsuit filed against the regulator by Ethereum software giant Consensys. The lawsuit indicates that the SEC approved a formal order directing agency staff to issue subpoenas related to the offer and sale of ETH only five


