The Blockchain Association Alleges SEC’s “Sweetheart Deal” with Prometheum
The Blockchain Association (BA) has raised concerns about the approval of Prometheum Ember Capital’s Broker-Dealer license by the Securities and Exchange Commission (SEC). The BA believes that there may have been impropriety involved in the approval process and has appealed to the SEC’s Office of Inspector General, Deborah Jeffrey, to investigate the matter.
Key Points:
– Prometheum Ember Capital, a Special Purpose Broker-Dealer, has come under scrutiny for its SEC approval.
– The BA alleges that Prometheum received preferential treatment from the SEC in exchange for co-CEO Aaron Kaplan’s testimony in Congress.
– Despite the SEC’s hostile approach towards the digital assets industry, Prometheum managed to obtain a license to operate as an SPBD.
– The BA has submitted a request for relevant documents and communications from the SEC and urges the Office of Inspector General to initiate an investigation.
– The association believes that Prometheum’s approval is hindering congressional efforts towards legislation for digital assets.
Hot Take:
The allegations made by the Blockchain Association highlight the potential influence and favoritism within regulatory bodies. It raises concerns about the transparency and fairness in the digital asset industry. It is crucial for investigations to take place to either confirm or dispel these allegations and ensure a level playing field for all participants in the industry.
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