Crypto lobbyists request SEC for details on regulated crypto firm Prometheum.
The Blockchain Association has filed a Freedom of Information Act request with the Securities and Exchange Commission (SEC) seeking records related to Prometheum, a crypto broker. This comes after Prometheum co-CEO Aaron Kaplan spoke before the House Financial Services Committee expressing support for the SEC’s positions on crypto regulation. This led to further scrutiny of the startup, with findings based on public records raising questions about the nature of Prometheum’s business practices and relationships. Many have questioned whether Prometheum has accurately presented 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. The Blockchain Association’s decision to seek more information was driven by growing suspicions around Prometheum. Some crypto leaders have speculated that Prometheum’s appearance before Congress represented a tactical effort to support the SEC’s positions in Tuesday’s hearing.
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