Harsh words for Gensler from the chairman of the Financial Services Committee

In the official documents of the case filed by Consensys, the company behind the Metamask wallet, against the US Securities and Exchange Commission (SEC) last week, it was revealed that the institution had considered Ether as a security for at least 1 year. This situation was met with a reaction from the Financial Services Committee of the US Congress.

Patrick McHenry, a Republican Party member who chairs the committee, accused SEC chairman Gary Gensler of knowingly and willfully manipulating the US courts.

“It is further evidence of arbitrary actions.”

Speaking to Fox Business reporter Eleanor Terrett from the US media, McHenry had harsh words for the SEC and Gensler:

“Several months after a federal judge found and sentenced SEC employees to lie to the court, it has now been revealed that Gary Gensler misled Congress. He resisted giving the SEC’s perspective on Ether in a statement to the Committee last April. Court documents show that Gensler knowingly concealed the agency’s stance on the issue and misled Congress. He deceived us too. Classifying Ether as a security contradicts previous statements by the SEC and Gensler. “This is actually another proof that the institution acts arbitrarily regarding digital assets and imposes regulations on companies.”

“It endangers national security.”

McHenry also stated that the bill prepared by Congress members from both parties, which draws a clear road map in cryptocurrencies, should be passed by Congress as soon as possible and said:

“As Republicans, we will continue to hold the SEC, led by Gary Gensler, responsible for stifling innovation and leaving American consumers unprotected. “These actions also endanger our national security.”

He almost scolded

At the Financial Services Committee meeting held last year and attended by Gary Gensler, Gary Gensler persistently left McHenry’s questions about both Bitcoin and Ether unanswered. McHenry, on the other hand, almost scolded Gensler with his harsh words.