Republican representative William Timmons has asked the president of the United States Stock Exchange and Securities Commission, Paul Atkins, to deliver documents about the historical treatment of the agencies of the president of the BIDES BIDES BIDES of Ender Ital, Gary Gensler.
Timmons asked Atkins in a letter on Tuesday for “specific documents” about the “historical opinions of the SEC about the state” of Ethher (ETH), which argued that he will help the public and congress to understand the approach of the previous leaders.
“Under the previous leadership, the SEC refused to articulate a consistent and consistent vision of how he believed that the laws of securities apply to digital assets. His zigzagging approach for ETH is a case in question,” said the letter.
Gensler “Doubt” Eth as a chair
Timmons said that in 2018, the then Director of Corporate Finance of the SEC, William Hinman, said the agency would treat Bitcoin (BTC) or ETH as values.
However, he said that Gensler, as president, “doubts the state of ETH when repeatedly refusing to answer questions about whether the SEC considers ETH as a security congress audience.”
“As it would be revealed later, days before that testimony, the SEC had approved a formal investigation into Wether Eth is a security,” Timmon wrote.
A year later, the SEC approached the funds quoted in Ether’s exchange, which Timmons said that “it would be appropriate only if ETH is not security”, and the SEC closed its ETH investigation “a few weeks later.”
“These repeated deviations caused destabilizing confusion for millions of participants from the American cryptographic market,” he added.
The letter adds to the action coinbase foia
Timmons’s letter follows a request from the Law on Freedom of Information (FOIA) backed by Crypto Exchange Coinbase in 2023, which asked the SEC documents on their views on ETH.
Related: SEC’s eye exemption frame to boost cryptographic innovation
The SEC denied the request, which led Coinbase to sue the SEC on alleged violations of FOIA in June 2024.
Later, a judge ordered the SEC to reveal certain documents, thousands of which Coinbase published online, one of which shows that prosecutors in New York unsuccessfully asked the SEC for their opinion on ETH.
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