Prometheum Draws Scrutiny Over Compliance Claims

The Defiant
The Defiant

29 Jun 2023 8:27 PM

Prometheum Says It Is Paving The Way For Crypto Adoption Through Compliance But Critics Say The Company Lists No Digital Assets...

  • Prometheum, a relatively unknown company, gained attention after its CEO testified in the U.S. House, claiming there is a viable path for digital assets firms to comply with regulations.
  • The CEO doubled down on these claims in a debate with a venture capital firm's special counsel, sparking a debate on whether Prometheum represents a viable way for digital asset exchanges to be compliant and register with regulators.
  • Prometheum claims to have built a new platform based on the SEC's guidance for digital asset securities, but critics argue that there is a regulatory gap that needs to be addressed.
  • The company has faced scrutiny regarding its relationship with the SEC, with a Freedom of Information Act (FOIA) request being sent to uncover any potential connections.
  • Some believe that Prometheum's claims are misleading and could be damaging to the industry, while others support its rise as a registered brokerage.

The sentiment in the article is mixed. While Prometheum's CEO claims to have a viable path for digital assets firms to comply with regulations, there are critics who argue that there is a regulatory gap and potential misleading claims. The article also mentions support for Prometheum's rise as a registered brokerage.

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You May Ask

What did Prometheum's CEO claim during his testimony in the U.S. House?Who did the CEO debate with regarding the viability of Prometheum as a compliant digital asset exchange?What platform did Prometheum claim to have built based on the SEC's guidance?What concerns were raised about Prometheum's relationship with the SEC?What action did the Blockchain Association take regarding Prometheum and the SEC?

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