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The debate over whether Ethereum (ETH) is a security is heating up again, and this time, a U.S. lawmaker is stepping in. U.S Representative William Timmons from South Carolina is urging the Securities and Exchange Commission (SEC) to release internal documents explaining its changing stance on Ethereum’s legal status over the years.
Asking for Ethereum Internal Documents
In his letter to SEC Chair Paul Atkins, Timmons expressed concern over what he described as the SEC’s “zigzagging” behavior when it comes to ETH. He noted that the public and crypto market participants deserve transparency, especially after years of mixed signals from the agency.
To get to the bottom of it, Timmons has requested key internal documents from the SEC. These include:
Emails discussing Ethereum and whether it qualifies as a security
Records about the ETH 2.0 investigation
Files titled “ETH – Security or Not” and similar subjects
These documents were previously identified in a lawsuit involving Coinbase but had not been shared publicly.
2018 Promise, 2025 Confusion
Back in 2018, the SEC’s Director of Corporate Finance, William Hinman, stated that Ether and Bitcoin would not be treated as securities. This made people in the crypto community feel more secure.
But, under Chair Gary Gensler and the Biden administration, the rules seem less clear, as they refused to offer more clarity on their security status.
Meanwhile, Timmons pointed out that this confusion is bad for businesses and for regular people who are interested in crypto. He said, “The American people and the crypto community deserve transparency as Congress moves forward with the CLARITY Act.”
Why It Matters?
Timmons says releasing these records will help Congress, the crypto industry, and the public better understand how the SEC’s view on Ethereum has changed. He also believes this will shed light on what he calls the SEC’s secretive “regulation by enforcement” strategy — one that has slowed innovation and confused investors.