Prometheums Ethereum Custodial Launch Puts SECs ETH Classification In The Spotlight

Prometheum, an alternative trading platform for crypto securities assets, has recently announced the launch of its custodial services for Ethereum (ETH). This move has significant implications for the legal status of the second-largest cryptocurrency by market capitalization.  Fortune Magazine reported that the companys strategy is to compel regulators, particularly the Securities and Exchange Commission (SEC), [...]

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Blockchain Assoc. requests info on Prometheum over ‘suspicious’ approval

A FOIA request with the SEC regarding Prometheum has been filed, while others found former FINRA and SEC staffers among the firm's ranks.

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Prometheum Testimony Raises Doubts: Crypto Community Questions Credibility Amid Regulatory Clarity Hearing

The crypto community is abuzz with discussions on social media about the recent United States House Committee hearing held on June 13, 2023, which delved into regulatory clarity within the crypto industry. Notably, the co-CEO of an obscure cryptocurrency broker named Prometheum expressed support for the existing regulatory framework of the U.S. Securities and Exchange [...]

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‘Who the hell’ is Prometheum and what did it say to Congress about SEC compliance?

A testimony given at a U.S. House hearing by the blockchain firm’s co-founder Aaron Kaplan has drawn the attention of those in the crypto space.

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US Representative Ritchie Torres Calls for Investigation of SEC Over Prometheum’s License

U.S. Rep. Ritchie Torres has called for an investigation into the special purpose broker-dealer (SPBD) license given by the U.S. Securities and Exchange Commission (SEC) to Prometheum, a cryptocurrency exchange platform. In two letters sent to U.S. Comptroller General Gene Dodaro and SEC Inspector General Deborah Jeffries, Torres calls for investigation of the “backroom deals” [...]

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