The chair of the U.S. House Financial Service Committee alluded to claims in Consensys’s recent lawsuit against the SEC, suggesting an investigation into Ether as a security.
United States House Financial Services Committee Chair Patrick McHenry has alleged Securities and Exchange Commission Chair Gary Gensler “knowingly misled Congress” over the regulator’s alleged attempts to classify Ether purview. The timing of his testimony suggested that the SEC may have already considered Ether a security.
“Clearly, an asset cannot be both a commodity and a security,” said McHenry in the Committee hearing. “I’m asking you, sitting in your chair now is Ether a commodity or a security?”If the SEC is pursuing a path that could put it at odds with the CFTC over Ether, it could have ramifications for approving or denying spot Ether exchange-traded funds on U.S. exchanges.
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