Rep. McHenry Alleges SEC Chair Gensler Misled Congress on Ethereum Status

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Rep. Patrick McHenry (R-NC), Chair of the House Financial Services Committee, accused SEC Chair Gary Gensler of misleading Congress about Ethereum’s status. Consensys’s unsealed document from a lawsuit reveal Ethereum’s year-long internal consideration by the SEC as an unregistered security. Also, McHenry has criticized the SEC’s contradictory public stance and private actions, and called it a “regulation by enforcement.” Next week’s hearing aims to address the enforcement practices of the SEC.