Congressman Torres demands an investigation of the SEC’s deal with Prometheum

The United States Securities Exchange Commission (SEC) could beryllium investigated for a "haphazard and heavy-handed attack to integer assets,” or, much specifically, for its “sweetheart deal” with crypto level Prometheum. 

Such requests were filed connected July 13 to the SEC's Inspector General Deborah Jeffrey and the Government Accountability Office's Comptroller General Gene Dodaro by Congressman Ritchie Torres. In the letters, published by the congressman connected his Twitter, helium writes:

“The SEC refuses to bring adjacent the barest magnitude of clarity to the exertion of securities instrumentality to integer assets. Its preferred means of communicating is neither regularisation nor guidance but enforcement”. 

Torres emphasizes the SEC’s May determination to assistance a peculiar broker intent trader (SPBD) licence to Prometheum, a integer assets platform, created successful 2017 by 2 American fiscal attorneys. According to Torres, “Prometheum appears to beryllium thing much than a Potemkin platform, operating arsenic a timely talking constituent for crypto critics alternatively than a existent trading level for crypto customers.”

He calls for an introspection of some the SEC’s nonaccomplishment to make “a workable process for registering” integer assets platforms and “the antithetic backdoor deal” for Prometheum. 

Related: ‘Who the hell’ is Prometheum and what did it accidental to Congress astir SEC compliance?

Prometheum precocious became a nationalist force for the crypto manufacture and Torres’ request for probe is not the archetypal one. The institution was thrust into the spotlight aft a Congress testimony of its co-founder, Aaron Kaplan successful June. The occupation seems to beryllium Kaplan’s wide enactment of the SEC’s regulatory strategy nether existent securities laws.

Immediately aft the hearing, theories astir Prometheum started swirling connected Twitter, emphasizing its imaginable ties to Chinese investors. On June 15, Blockchain Association filed a petition with the SEC, seeking information astir the company. In July, Six Republican Congressmen called connected SEC to investigate Prometheum’s “ties to the Chinese Communist Party.”

Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.

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