On June 11, 2025, Republican Representative William Timmons requested US Securities and Exchange Commission chair Paul Atkins to provide documents concerning the agency's historical treatment of Ether (ETH) under the Biden-era chair, Gary Gensler. (Source: CoinDesk, June 11, 2025)
Timmons' letter sought "specific documents" to clarify the SEC's "historical views on the status" of Ether, aiming to aid public and congressional understanding of the former leadership's approach. The letter highlighted the SEC's inconsistent stance, particularly regarding ETH.
Timmons pointed out that in 2018, the SEC stated that it wouldn't treat Bitcoin (BTC) or ETH as securities. However, he claimed Gensler created uncertainty by avoiding questions about ETH's status during an April 2023 congressional hearing. (Source: CoinDesk, June 11, 2025)
The SEC approved an investigation into whether ETH is a security days before Gensler's testimony. A year later, the SEC approved Ether exchange-traded funds, which Timmons argued would only be appropriate if ETH wasn't a security. The SEC closed its probe into ETH shortly after. (Source: CoinDesk, June 11, 2025)
Timmons' request follows a 2023 Freedom of Information Act (FOIA) request by Coinbase, which the SEC denied. Coinbase sued the SEC in June 2024 over alleged FOIA violations. (Source: CoinDesk, June 11, 2025) A judge later ordered the SEC to disclose documents, including one showing prosecutors in New York sought the SEC's opinion on ETH unsuccessfully.