Representative Timmons Asks For Docs On SEC's Historical Ethereum Approach
Republican Representative William Timmons requested SEC chair Paul Atkins to provide documents regarding the agency's historical treatment of Ether (ETH) under Gary Gensler's leadership. Timmons highlighted inconsistencies in the SEC's stance on digital assets, particularly ETH, noting that in 2018, the SEC indicated ETH would not be treated as a security. However, Gensler later raised doubts about ETH's status during a congressional hearing in April 2023, coinciding with the SEC's initiation of an investigation into ETH. Timmons pointed out that the SEC approved Ether exchange-traded funds a year later, suggesting ETH is not a security, and subsequently closed its investigation. This letter follows a FOIA request from Coinbase regarding the SEC's views on ETH, which was denied, leading to a lawsuit against the SEC for alleged FOIA violations. A judge ordered the SEC to disclose certain documents related to this matter.
