Search Results for: FINRA

The Financial Industry Regulatory Authority (FINRA) approved its first broker-dealer with custody rights for digital assets securities, Prometheum Ember Capital LLC, and authorized OTC Markets Group for crypto securities trading. Prometheum Capital’s platform, built to comply with SEC regulations, aims to challenge the industry’s claims of a lack of a clear US compliance path.

“The dialogues between Terraform Labs’ co-founders hinted at deceptive transactions on the Terra blockchain to attract investors. In contrast, cryptocurrency exchange Gemini invests $24 million in India despite regulatory ambivalence. Kraken steps into securities trading, requiring regulatory approval. These scenarios highlight the evolving role of regulatory oversight in the blockchain industry.”

“SOMA Finance plans to introduce the first legally issued and structured digital security, potentially providing a solution to criticisms in the crypto industry. This will be achieved through a blend of decentralized finance features, regulatory-compliant mechanisms, and investor-friendly options, suggesting a shift in digital asset valuation.”

“Dinari, a blockchain-based stock trading platform, has gained preliminary regulatory approval to tokenize stocks. This is a significant step forward in asset tokenization. Dinari’s plans are to simulate the US stock market within securities laws criteria.”

US lawmakers have raised concerns over the issuance of a Special Purpose Broker-Dealer license to Prometheum amid questions about its operations and alleged ties to the Chinese Communist Party. Meanwhile, Coinbase is advocating for pro-crypto political figures, despite controversies which cast a shadow over its initiative. The future of crypto regulation remains unpredictable.

The connection between Ethereum co-founder Vitalik Buterin and Wanxiang Blockchain Labs has re-entered the spotlight due to Prometheum, a firm partly owned by Shanghai Wanxiang Blockchain and praised by SEC Chairman Gary Gensler for regulatory compliance. This connection raises questions about the intricate relationships between crypto companies and their founders, impacting the industry’s push for regulatory acceptance.

Financial Services Committee Chairman Patrick McHenry indirectly supports BlackRock iShares spot Bitcoin ETF and criticizes the SEC’s regulation approach to the digital asset market. The upcoming hearings and committee vote on a digital asset bill may impact the crypto market, clarifying regulations and jurisdiction between the SEC and CFTC.

The U.S. Blockchain Association submitted a Freedom of Information Act request to the SEC, seeking information on crypto company Prometheum, amidst differing opinions on cryptocurrency regulation. This ongoing debate questions whether cryptocurrencies should be tightly regulated or operate under a self-regulatory framework, directly influencing the industry’s future growth and innovation.

Crypto startup Prometheum gains attention as the first crypto-centric broker-dealer registered with the SEC and a member of FINRA. Despite controversy, the firm’s regulatory status may provide insights into the SEC’s perspective on digital asset compliance, impacting future crypto startups seeking regulation.

The SEC and FINRA-approved crypto firm Prometheum has stirred up discussions within the community due to its lack of trading in top crypto assets. Prometheum’s regulatory approval raises questions about the future of digital assets, established regulatory frameworks, and blockchain technology’s role in the rapidly evolving landscape.

The House Financial Services Committee discussed regulation of digital asset markets, focusing on crypto market structure and stablecoin regulation. Aaron Kaplan, CEO of Prometheum, stated that existing securities laws suffice for crypto regulation, echoing SEC Chair Gary Gensler’s viewpoint. However, some argue that the SEC’s current approach doesn’t provide a clear path for crypto exchanges.