US Lawmakers Probe SEC & FINRA
posted 16 Aug 2023
US House Financial Services Committee members, led by Chair Patrick McHenry, are seeking clarity from the SEC and FINRA about how Prometheum secured a special purpose broker-dealer (SPBD) license.
They're probing if the SEC used Prometheum as a model firm to support Gary Gensler's stance that existing laws suffice for crypto regulation in the U.S.
Despite Prometheum's claims of being pivotal for regulated digital asset offerings, the lawmakers pointed out that the firm hasn't served any customers yet. Also they raised concerns about potential ties between Prometheum and the Chinese Communist Party.
The committee has requested related documents and communication records by Aug. 22.
They're probing if the SEC used Prometheum as a model firm to support Gary Gensler's stance that existing laws suffice for crypto regulation in the U.S.
Despite Prometheum's claims of being pivotal for regulated digital asset offerings, the lawmakers pointed out that the firm hasn't served any customers yet. Also they raised concerns about potential ties between Prometheum and the Chinese Communist Party.
The committee has requested related documents and communication records by Aug. 22.
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