Blockchain Assoc. requests info on Prometheum over ‘suspicious’ approval
United States crypto lobby group Blockchain Association has filed a request with the U.S. Securities and Exchange Commission, seeking information about the formerly little-known crypto company Prometheum.
The company became the center of the crypto industry's attention this week when its CEO Aaron Kaplan testified at a House hearing and gave its support of regulating crypto under securities laws and the SEC, a position that’s starkly opposite to other vocal proponents of the industry.
On June 15, Blockchain Association counsel Marissa Coppel said the group filed a Freedom of Information Act (FOIA) request to the SEC seeking documents and communications related to Prometheum.
In a series of tweets, Coppel said she was “suspicious” Prometheum was approved as a special purpose broker-dealer (SPBD) for digital assets “in the midst of aggressive SEC enforcement.”
Coppel was also skeptical at how Kaplan was able to provide testimony at a Congressional hearing on regulations for the industry.
2/ The CEO somehow gets a seat in front of Congress and argues that Prometheum represents the compliant path for digital assets.And they've paid $1.5+ million in sales commissions to a Chinese-affiliated entity with quite the regulatory track record.Hmmm
FOIA requests are submissions by members of the public to U.S. federal agencies that can ask for records on any topic, in this case, the SEC’s information on Prometheum.
At the June 13 House hearing Kaplan said his firm did not receive any “additional exemptive relief from the SEC” when questioned by Representative Mike Flood.
For those that didn’t stick around until the end of the @FinancialCmte hearing today, this exchange between @USRepMikeFlood and @PrometheumInc CEO Aaron Kaplan is an
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