In an escalation of tensions between Congress and the U.S. Securities and Exchange Commission (SEC), Patrick McHenry (R-N.C.), Chair of the House Financial Services Committee, has openly criticized SEC Chair Gary Gensler for his evasive responses during a congressional hearing.

What Happened: McHenry alleged that Gensler knowingly avoided clarifying whether the SEC considers Ethereum‘s ETH/USD cryptocurrency, ether, as a security.

This accusation was spurred by revelations from court documents indicating the SEC was actively investigating ether’s status just before Gensler’s testimony.

“The refusal of Chair Gensler to address questions about the SEC’s stance on ether during the…

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