Rep. Patrick McHenry (R-N.C.) and Rep. Glenn “GT” Thompson (R-Penn.), the chairmen of the two committees, and the other Republican lawmakers – many of whom have been staunch supporters of the crypto industry – argued in Tuesday’s letter that ETH is not a security, making the asset illegal to handle by a securities firm like Prometheum.
![House Republicans Demand SEC Explain What’s Up With Crypto Platform Prometheum House Republicans Demand SEC Explain What’s Up With Crypto Platform Prometheum](https://www.coindesk.com/resizer/cZH5js2d3PjUD6Sg963hvEjLYxk=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/LDTCHVBJVVGW3J5LDUSLFRYQDU.jpg)