Summary
- William Timmons, a Republican member of the U.S. House of Representatives, reportedly requested the SEC to disclose documents related to the handling of Ethereum (ETH).
- Representative Timmons stated that the SEC has not clearly explained the application of securities law to virtual assets (cryptocurrencies).
- It was reported that the SEC's past refusals to answer whether Ethereum is a security have caused instability and confusion among market participants.
William Timmons, a Republican member of the U.S. House of Representatives, has reportedly requested the Securities and Exchange Commission (SEC) to disclose documents regarding how Ethereum (ETH) has been handled.
According to Cointelegraph on the 10th (local time), Representative Timmons stated in a letter, "Former SEC leadership did not make clear their views on how securities laws apply to virtual assets (cryptocurrencies)," adding, "The SEC must release specific documents on how it has viewed Ethereum thus far." He continued, "If these documents are disclosed, the public and Congress will be able to better understand the previous leadership's approach."
He also expressed a negative view of the SEC's past actions. Timmons said, "The SEC has repeatedly refused to answer the question of whether Ethereum is a security," noting that "millions of virtual asset market participants have suffered instability and confusion as a result."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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