The Blockchain Association announced that it has filed a Freedom of Information Act request to learn more about the SEC’s interactions with a little-known crypto exchange called Prometheum.
Prometheum came to the fore when its co-CEO claimed it was possible to comply with US law. The Blockchain Association then filed a request with the SEC under the Freedom of Information Act.
Blockchain Association Submits Information Request From SEC
Jake Chervinsky, chief policy officer of the Blockchain Association, said on Twitter that the developments regarding Prometheum are pointless and suspicious. Prometheum sparked controversy earlier this week when its CEO, Aaron Kaplan, testified before Congress. The company has been recognized as a strong supporter of the SEC’s tools to regulate crypto exchanges.
While the Blockchain Association requested information about the interactions between Prometheum and the SEC, some in the industry stated that Prometheum plans to trade crypto in a regulated manner. However, some industry experts pointed out that most cryptocurrencies are unregistered securities and the SEC does not allow trading unregistered tokens.
Prometheum CEO Kaplan, on the other hand, said in his testimony to Congress that Prometheum must be registered with the SEC in order to be able to trade tokens. He also stated that Prometheum plans to support digital asset securities.
Kaplan, the CEO of Prometheum, emphasized that they have passed the SEC and CFIUS scrutiny and are being reviewed by the relevant regulatory bodies, adding that they cannot comment on the motivations of the Blockchain Association.
