U.S. lawmakers have written to Gary Gensler and FINRA's president to clarify whether ETH is a "crypto-asset security."

According to Fox Business reporter Eleanor Terrett, some Republican members of the Financial Services Commission, led by Congressman John Rose, wrote to Gary Gensler, chairperson of the Securities Exchange Commission, and Robert Cook, president and CEO of the Financial Industry Regulatory Authority (FINRA), expressing concern about their continued silence on Prometheum Inc's Ethereum custodian service, which the relevant regulators consider to be a so-called "crypto-asset security". The letter pointed out that the silence of these agencies on the matter shows that, given that the Securities Exchange Commission has admitted that ETH is not a security, and that the term "crypto-asset security" does not apply to the token itself, but to the way the token is sold, thus creating market confusion and uncertainty.
"Participants in the digital asset space deserve certainty from regulators, but under Gary Gensler there has been nothing but confusion and confusion," Mr. Rose said in the letter. "I hope that Chairperson Gary Gensler will listen carefully to our concerns as he cleans up his office and provide some real guidance before leaving office."