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Gary Gensler SHUT DOWN in Congress for LACK of Crypto Regulations.Digital or virtual currency is an electronic medium of exchange that is not a representation of U.S. or foreign currency. Cryptocurrency is a type of. Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether. In a civil complaint against a crypto influencer, the SEC suggested the U.S. government has jurisdiction over all Ethereum transactions.