Leading cryptocurrency BitcoinWhile the SEC and CFTC accept that is a commodity, not a security, it is the second largest cryptocurrency. EthereumThere is no clarity yet on his status.
SEC chairman Gary gentes While he did not make a clear statement about the status of Ethereum, 48 members of Congress responded to Gensler ETH’sent a letter expressing concerns that listing as a security could threaten the crypto industry.
US lawmakers demanded answers from Gensler on how ETH could be legally considered a security by Prometheum.
As you may remember, Prometheum provides its customers with Ethereum (ETH) He announced that he would launch a custody service aimed at keeping
At this point Prometheum ETH As the United States approaches an unprecedented moment in cryptocurrency history, lawmakers asked the SEC Chairman for clarification on whether ETH is a security or not.
“We are writing to express our concerns regarding Prometheum’s recent announcement that its subsidiary, Prometheum Ember Capital LLC (Prometheum Capital), a Financial Industry Regulatory Authority (FINRA) approved Special Purpose Broker-Dealer (SPBD), has announced this for Ethereum (ETH). It will provide custody services to corporate clients later in the month.
At this point, we ask the SEC to clarify Ethereum’s position.
We are faced with an alarming scenario where SPBD announces plans to offer custody services for ETH in the face of a regime that does not allow such activities.
If this situation is allowed to continue, it could have irreparable consequences for digital asset markets.
Your reluctance to clarify the status of ETH further increases the confusion and uncertainty regarding the classification of ETH, as demonstrated in the Prometheum announcement.
In order for Prometheum Capital to announce that it would hold ETH and remain compliant with the SPBD regime, the SEC would have to declare that ETH is a digital asset security. However, ETH has not yet been registered as a security with the SEC.”
SEC spokesman said Gensler told members of Congress ETH While he declined to comment, saying he would respond directly to their letter, a Prometheum spokesman said company officials were still reviewing the letter.
*This is not investment advice.
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