US Congressman writes to Gary Gensler and FINRA President to ask for clarification on whether ETH is a “crypto-asset security”

Fox Business reporter Eleanor Terrett posted on the X platform that some Republican members of the Financial Services Committee led by US Congressman John Rose wrote to Gary Gensler, Chairman of the US Securities and Exchange Commission, and Robert Cook, CEO of the US Financial Industry Regulatory Authority (FINRA), expressing concerns about their continued silence on Prometheum Inc.'s Ethereum custody service launched in May this year. The relevant regulatory agencies believe that the service belongs to the so-called "encrypted asset securities". The letter pointed out that the silence of these agencies on this matter indicates that, given that the US Securities and Exchange Commission has already recognized that ETH is not a security, the term "encrypted asset securities" does not apply to the tokens themselves, but to the way the tokens are sold, thereby creating market confusion and uncertainty.

In the letter, John Rose pointed out: "Participants in the digital asset field should receive regulatory certainty, but under the leadership of Gary Gensler, they have only received confusion and bewilderment. I hope that Chairman Gary Gensler can listen carefully to our concerns while cleaning up the office and provide some real guidance before leaving office."