The Blockchain Association Urges Investigation into Prometheum
The Blockchain Association has submitted a letter to the SEC’s Inspector General requesting an investigation into Prometheum. The association has raised concerns about the regulatory status given to Prometheum by the SEC, particularly regarding its special purpose broker-dealer license (SPBD). The letter also questions how Prometheum’s co-CEO, Aaron Kaplan, secured a seat to testify before the U.S. House Financial Services Committee. The Blockchain Association argues that given the uncertainty surrounding the application of U.S. securities laws to crypto firms, Prometheum’s ability to obtain the SPBD license is concerning. The association has previously submitted a FOIA request for documents and communications about Prometheum’s license.
SEC Lawsuits against Binance and Coinbase
The SEC has filed lawsuits against Binance and Coinbase, accusing both cryptocurrency exchanges of operating securities exchanges without proper registration. The allegations include mishandling customer funds, unlawfully serving U.S. investors, and operating unregistered securities exchanges. Binance and Coinbase have refuted these claims, highlighting the ambiguity and lack of clear directives regarding crypto exchange regulations. These lawsuits add to the uncertainties facing the crypto community.
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