Cryptocurrency firm Prometheum, on Wednesday, gained the attention of the crypto community after its co-founder and co-CEO, Aaron Kaplan, gave testimony before the United States House Committee regarding regulatory clarity for the crypto industry.
What Happened: In contrast to the industry commentary from firms such as Coinbase, Kraken, Kaplan's testimony appears to be supportive of the regulation of cryptocurrency under current securities laws.
Kaplan argued that existing securities laws and regulations apply to cryptocurrencies and those who argue for new crypto-specific laws are "simply not willing to comply." He even called the SEC "the most capable financial markets regulatory agency in the world."
However, when Kaplan was asked by a member of the committee if the company offered trading for Bitcoin BTC/USD or Ethereum ETH/USD. Kaplan responded by saying that they did not offer trading for either currency.
‘Bizarre' Theories: Castle Island Ventures partner Matt Walsh along with Adam Cochran shared "bizarre" facts about the company and its co-founder.
On Twitter, alleged theories about Prometheum’s links to the Chinese Communist Party have been circulating. Additionally, some have drawn attention to Prometheum’s team, composed of former staffers from the SEC.
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Why It Matters: This has led many in the crypto community, including Ethereum and Cardano co-founder Charles Hoskinson, to question who Kaplan and Prometheum are and why they seem unheard of. "Who the hell are these Prometheum Guys," Hoskinson tweeted.
The Wall Street-based firm was founded in 2017 by Aaron and Benjamin Kaplan, who are also listed as attorneys at the financial services law firm Gusrae Kaplan.
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