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Did Prometheum just call ETH, ARB and UNI securities?
The post Did Prometheum just call ETH, ARB and UNI securities? appeared on BitcoinEthereumNews.com. Today, enjoy the On the Margin newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the On the Margin newsletter. Welcome to the On the Margin Newsletter, brought to you by Ben Strack and Casey Wagner. Here’s what you’ll find in today’s edition: Prometheum defends its stance on which crypto tokens are securities. State Street takes another step in its crypto journey. Spoiler: Tokenization is still key. It’s a good day to own SDIG shares as mining M&A continues. The Prometheum Test Prometheum Capital has plans to add Uniswap’s UNI and Arbitrum’s native ARB to the custodial platform it intends to launch in the coming weeks, the company said Wednesday. Prometheum has been making waves since May 2023 when it became the first company to receive a special-purpose broker-dealer license to custody digital assets. The approval from the SEC and FINRA caused quite a stir, mostly because others (Coinbase and Robinhood) said they’d been trying to secure an SPBD for years. “When [SEC Chair Gary] Gensler said ‘come in and register,’ we did,” Dan Gallagher, Robinhood’s chief legal, compliance and corporate affairs officer, told lawmakers during a July 2023 House hearing. “We went through a 16-month process with the SEC staff trying to register as a special-purpose broker-dealer and then we were…told in March that that process was over and we would not see any fruits of that effort.” The Blockchain Association called Prometheum’s license a “sweetheart deal” and four Republican Congressional leaders demanded a DOJ investigation into how and why the company got the regulatory green light. Prometheum co-CEO Aaron Kaplan has defended the SPBD license, saying in July 2023 that crypto firms not registered with the SEC and FINRA are “simply not willing to comply.” Sounds like he may have taken a page from…
The post Did Prometheum just call ETH, ARB and UNI securities? appeared on BitcoinEthereumNews.com.
Today, enjoy the On the Margin newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the On the Margin newsletter. Welcome to the On the Margin Newsletter, brought to you by Ben Strack and Casey Wagner. Here’s what you’ll find in today’s edition: Prometheum defends its stance on which crypto tokens are securities. State Street takes another step in its crypto journey. Spoiler: Tokenization is still key. It’s a good day to own SDIG shares as mining M&A continues. The Prometheum Test Prometheum Capital has plans to add Uniswap’s UNI and Arbitrum’s native ARB to the custodial platform it intends to launch in the coming weeks, the company said Wednesday. Prometheum has been making waves since May 2023 when it became the first company to receive a special-purpose broker-dealer license to custody digital assets. The approval from the SEC and FINRA caused quite a stir, mostly because others (Coinbase and Robinhood) said they’d been trying to secure an SPBD for years. “When [SEC Chair Gary] Gensler said ‘come in and register,’ we did,” Dan Gallagher, Robinhood’s chief legal, compliance and corporate affairs officer, told lawmakers during a July 2023 House hearing. “We went through a 16-month process with the SEC staff trying to register as a special-purpose broker-dealer and then we were…told in March that that process was over and we would not see any fruits of that effort.” The Blockchain Association called Prometheum’s license a “sweetheart deal” and four Republican Congressional leaders demanded a DOJ investigation into how and why the company got the regulatory green light. Prometheum co-CEO Aaron Kaplan has defended the SPBD license, saying in July 2023 that crypto firms not registered with the SEC and FINRA are “simply not willing to comply.” Sounds like he may have taken a page from…
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