The Blockchain Association has requested records connected to the crypto startup Prometheum from the SEC, after the CEO’s testimony before Congress triggered scrutiny of the company.
before the House Financial Services Committee on Tuesday, broadly in support of the Gary Gensler SEC’s positions on crypto regulation.
Above all, many have questioned whether Prometheum has been accurate in presenting itself as a fully regulated crypto exchange, a claim that supports SEC Chair Gary Gensler's position that existing regulations are sufficient for regulating crypto. Despite this self-characterization, Prometheum is not currently operational, and there are major unanswered questions about its path forward.
“In the midst of aggressive SEC enforcement, Prometheum [received] approval for first-of-its-kind Special Purpose Broker-Dealer for digital asset securities,” she wrote. Then “The CEO somehow gets a seat in front of Congress and argues that Prometheum represents the compliant path for digital assets.”
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