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The chairperson of the US Financial Services Commission has slammed the SEC's investigation into Ethereum, saying the chairperson intentionally misled Congress

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2024-04-30 23:35:32
Patrick McHenry, chairperson of the US House Financial Services Committee, has lashed out at the SEC and Gary Gensler, chairperson of the SEC, regarding the Securities Exchange Commission's (SEC) investigation into Ethereum, suggesting that Ethereum could be classified as a security. Additionally, the lawmaker emphasized that Gensler deliberately misled Congress on the issue.
Patrick McHenry pointed out that this incident highlights the urgency for Congress to pass the bipartisan 21st Century FIT Act in order to provide a clear regulatory framework and strong consumer protections for digital asset markets. Committee Republicans will continue to hold the Gary Gensler-led SEC accountable for its regulatory overreach that stifles innovation, leaves American consumers unprotected, and endangers our national security.
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