In a joint effort, Republican lawmakers led by House Financial Services Committee Chair Patrick McHenry and House Agriculture Committee Chair Glenn Thompson have called upon Securities and Exchange Commission (SEC) Chair Gary Gensler to provide further clarification on the agency’s stance regarding the custody of Ethereum (ETH) by Prometheum. The …
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Prometheum, an “alternative” trading platform for crypto “securities” assets, has recently announced the launch of its custodial services for Ethereum (ETH). This move has significant implications for the legal status of the second-largest cryptocurrency by market capitalization. Fortune Magazine reported that the company’s strategy is to compel regulators, particularly the …
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In a recent development, Republican lawmakers on the U.S. congressional committee responsible for overseeing the Securities and Exchange Commission (SEC) have intensified their scrutiny of the agency’s crypto approval process. Led by Chair Patrick McHenry, 23 House Financial Services Committee lawmakers have sent a letter to SEC Chair Gary Gensler, …
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Earlier this week, US senator Thomas Tuberville (R-Ala.) and five other congressional Republicans called for investigations into Prometheum’s ties to Chinese entities, alleging connections with the Chinese Communist Party. US Congressman Ritchie Torres (D-N.Y.) has called for two independent investigations into the US Securities and Exchange Commission’s (SEC) actions, citing …
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