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The letters raise “serious questions” about whether the SEC championed Prometheum as a poster firm to represent Gensler’s position that no new laws are needed to regulate and police crypto in the U.S., just as McHenry’s committee was about to send digital assets legislation to the House floor. For its
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The United States Securities Exchange Commission (SEC) could be investigated for a "haphazard and heavy-handed approach to digital assets,” or, more specifically, for its “sweetheart deal” with crypto platform Prometheum. Such requests were filed on July 13 to the SEC's Inspector General Deborah Jeffrey and the Government Accountability Office's Comptroller General
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The United States-based crypto advocacy group Blockchain Association has submitted a letter to the Securities and Exchange Commission’s (SEC) Office of Inspector General calling for an investigation into crypto firm Prometheum.In a July 12 letter, the Blockchain Association requested SEC inspector general Deborah Jeffrey look into the Financial Industry Regulatory
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Six members of the United States congress have called on the U.S. Securities and Exchange Commission (SEC) and Department of Justice to investigate Prometheum, claiming the firm has ties to the Chinese Communist Party. In a July 10 letter, Alabama Senator Thomas Tuberville and five members of the House of Representatives
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Prometheum "may have provided false testimony to Congress or violated U.S. securities laws," the open letter began. The lawmaker said Prometheum CEO Aaron Kaplan told Congress that it developed its own blockchain platform independently starting in December 2019. However, in SEC filings filed through 2021, Prometheum said it depended on
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A U.S. senator, Tommy Tuberville (R-Ala.), also accused his company of being a tool of Chinese investors. Kaplan responded, saying that while HashKey Group, the digital assets and blockchain arm of Chinese conglomerate Wanxiang Group, still owns about 20%, it has no access to the company’s data or technology. He
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Tyler Winklevoss, the co-founder of Gemini, a cryptocurrency exchange compliant with New York rules, has criticized the Securities and Exchange Commission (SEC), saying that while the regulator has filed legal actions against prominent cryptocurrency exchanges, including Binance,
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Blockchain Association, a prominent US crypto lobbying group, has lodged a formal inquiry with the US Securities and Exchange Commission (SEC) to acquire information about the relatively unknown crypto firm, Prometheum. This move comes after Prometheum’s
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Above all, many have questioned whether Prometheum has been accurate in presenting itself as a fully regulated crypto exchange, a claim that supports the SEC’s ongoing enforcement agenda. Despite this self-characterization, Prometheum is not currently operational, and there are major unanswered questions about its path forward. Source
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The relatively under-the-radar crypto company Prometheum has been thrust into the spotlight after a recent testimony from its co-founder before a United States House Committee, discussing crypto regulatory clarity. On June 13, Prometheum co-founder and co-CEO Aaron Kaplan appeared before the U.S. House at a hearing to discuss providing regulatory
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