U.S. congressmen write to Gary Gensler and the president of FINRA, asking for clarification on whether ETH is a "crypto asset security"

On November 17, Fox Business reporter Eleanor Terrett reported that some members of the Financial Services Committee led by U.S. Congressman John Rose wrote to Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), and Robert Cook, CEO of the Financial Industry Regulatory Authority (FINRA). They expressed concern about their continued silence on the Ethereum custody service launched by PrometheumInc in May this year. The relevant regulatory authorities consider these services as so-called "crypto asset securities".

The letter pointed out that these institutions' silence indicates that since the SEC has already recognized ETH is not a security, and "crypto asset securities" does not apply to tokens themselves but rather to how they are sold, it has created market confusion and uncertainty. In his letter, John Rose stated: "Participants in digital assets should have certainty from regulators; however under Gary Gensler's leadership we only got confusion and bewilderment. I hope Chairman Gary Gensler will seriously listen to our concerns while cleaning up his office and provide some real guidance before leaving."