Summary
Republican lawmakers argue that Ethereum (ETH) is not a security and therefore should not be regulated as such. They claim that handling ETH should not be considered illegal for securities firms like Prometheum.
Key Points
1. Rep. Patrick McHenry and Rep. Glenn “GT” Thompson, along with other Republican lawmakers, argue that ETH is not a security.
2. The lawmakers believe that classifying ETH as a security would make it illegal for securities firms like Prometheum to handle the asset.
3. Many of the Republican lawmakers involved in the argument have been strong supporters of the cryptocurrency industry.