Forty-eight U.S. lawmakers have reached out to SEC Chairman Gary Gensler, seeking clarification on the status of Ether (CRYPTO:ETH) as a security.

They expressed concerns that classifying ether as a digital asset security could have negative repercussions across the digital asset market, affecting it both in the short and long term.

This move underscores the growing interest and concern among government officials regarding the regulatory status of cryptocurrencies and their impact on the broader financial ecosystem.

The lawmakers' request to Gensler highlights the urgency for clear regulatory guidance in the rapidly evolving digital asset space, aiming to prevent potential market disruptions.