Congressman McHenry Accuses Gensler of Hiding Ethereum Classification

Date: 2024-05-01 Author: Gabriel Deangelo Categories: IN WORLD
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The Chairman of the House Financial Services Committee, Patrick McHenry, accused the head of the SEC, Gary Gensler, of deliberately misleading Congress, claiming that it refused to clearly define the status of Ethereum.

In March 2023, Gensler failed to clarify the status of Ethereum, saying that it depended on investor intentions, which caused confusion and criticism.

Investigation and filing of claims

At the same time, the SEC's Division of Enforcement has launched an investigation into "Ethereum 2.0," which has caused tensions with major companies, including Consensys, which filed a lawsuit against the SEC.

At the April 2023 hearing, despite the ongoing investigation, Gensler avoided answering a question about the status of Ethereum, which McHenry said was a deliberate attempt to mislead.

Consequences and proceedings

McHenry argues that the investigation into the status of Ethereum has broad political implications, especially in light of the current legal dispute between Consensys and the SEC.

The Chairman of the House Financial Services Committee, Patrick McHenry, brought charges against the head of the SEC, Gary Gensler, alleging that he deliberately withheld information about the status of Ethereum from Congress.

Gensler remained vague in March 2023 when asked about the status of Ethereum, saying it depended on investor intentions, which sparked criticism and discontent.

Investigation and lawsuits

While the SEC has opened an investigation into Ethereum 2.0, it has caused tension with major companies such as Consensys, which filed a lawsuit against the SEC.

At the April 2023 hearing, despite the ongoing investigation, Gensler avoided a clear answer to the question about the status of Ethereum, which McHenry said was a deliberate attempt to mislead.

McHenry argues that the investigation into the status of Ethereum has broad political implications, especially in light of the current legal dispute between Consensys and the SEC.
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