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 (SEC) Chair Gary Gensler “knowingly misled Congress” over the regulator’s alleged attempts to classify Ether (ETH) as a security.
In an April 30 X post, Representative McHenry claimed that Gensler intentionally misled lawmakers in testimony before the Committee. The U.S. lawmaker referred to claims made in a recent court filing by software development firm Consensys, which filed a lawsuit against the SEC on April 25.
Consensys’s initial complaint in the U.S. District Court for the Northern District of Texas highlighted public inconsistencies in the SEC’s approach to digital assets as securities, specifically Ether. Unredacted sections of the filing appeared on the court docket on April 29, suggesting that the SEC launched an investigation into ETH as security in March 2023.