A relatively unknown crypto startup until recently, Prometheum, has risen to prominence as the Securities and Exchange Commission’s (SEC) prime example of regulatory compliance in an industry often associated with dubious actors.
The entire community is asking just who the f*$% is Promethuem and why has nobody heard of them before?
SEC Chair Gary Gensler praised Prometheum as a shining model of certainty amidst a landscape plagued by “hucksters, fraudsters, and scam artists.”
Prometheum positions itself as an ecosystem for the securities market for digital assets and is proud to be the first broker-dealer for cryptocurrencies registered with the SEC and a member of the Financial Industry Regulatory Authority (FINRA). Its mission is to bridge the gap between traditional finance and the crypto sphere.
In a noteworthy development, Aaron Kaplan, the founder, and co-CEO of Prometheum, testified before the House Financial Services Committee, underscoring the company’s commitment to compliance and emphasizing that the SEC has provided a clear path in this regard.
Contrary to the sentiments expressed by many firms currently under SEC scrutiny, Kaplan expressed reservations about new legislation aimed at clarifying crypto, asserting that such laws do not serve the best interests of the investing public.
He argued that those advocating for new regulations are simply unwilling to comply with existing applicable securities laws.
As Prometheum garners attention, industry observers continue to scrutinize the startup’s viability and background, eager to unravel the intricacies of its business model.
The rise of Prometheum as a crypto compliance champion underscores the growing importance of regulatory compliance within the industry, potentially paving the way for increased trust and institutional adoption of digital assets.
Also Read: Video Shows Gary Gensler Claiming ETH & BTC Are Not Security
