U.S. House Financial Services Committee Chairman Accuses SEC Chairman of Misleading Congress on Ethereum

According to BlockBeats, on May 1, Patrick McHenry, Chairman of the U.S. House Financial Services Committee, accused Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), of making misleading statements to Congress on the characterization of Ethereum (ETH). McHenry posted on the social platform X that Gensler refused to answer questions about how the SEC defined Ethereum when attending a congressional hearing, but new court documents show that this was a deliberate attempt by the SEC to distort its position. It is reported that Consensys's new lawsuit against the SEC revealed that the SEC had begun investigating the nature of Ethereum a few days before Gensler testified in April 2023. At present, the SEC has not responded to McHenry's allegations. Lawyers in the industry pointed out that the SEC's investigation into whether a project violates federal securities laws is not equivalent to determining a policy position.