House GOP Pressures SEC To Clarify Ethereum’s Security Designation For Prometheum’s Custody
Summary
Republican lawmakers, led by Patrick McHenry and Glenn Thompson, have urged SEC Chair Gary Gensler to clarify the agency's stance on Prometheum's custody of Ethereum. They emphasized the SEC and CFTC's recognition of Ethereum as a non-security digital asset and expressed concerns about the lack of transparency in the SEC's regulatory framework. The lawmakers called for regulatory clarity and comprehensive guidance on digital asset classification to minimize uncertainty and support market growth. The SEC has yet to respond formally.
