The BlockchainAssn urges the SEC Inspector General to investigate PrometheumInc over its broker-dealer license approval.
The advocacy group said the fact Prometheum had been able to obtain a SPBD license in May 2023 was “concerning” given the uncertainty around U.S. securities laws applying to crypto firms. According to the Blockchain Association, Prometheum changed its public position of calling for regulatory clarity from the SEC in April 2021 to claiming “there exists a clear pathway to registration for digital assets and legislation is unnecessary”.
“We are concerned that the Commission granted Prometheum a ‘sweetheart’ deal in exchange for support of the Commission’s policy goals, or that Prometheum is leveraging personal connections with the Commission to gain an unfair advantage in the market,” said the association.
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