The Committee, led by Chair Patrick McHenry and supported by twenty other members, has conveyed their concerns to Gary Gensler, Chair of the Securities and Exchange Commission (SEC), and Robert Cook, President and CEO of the Financial Industry Regulatory Authority (FINRA).
SnakePrometheum, a company whose co-CEO says that new crypto-specific financial laws are not necessary in the U.S., has become a lightning rod for crypto advocates. The Blockchain Association, a large industry trade group, demanded an internal investigation into approval of the company’s special purpose broker dealer license by the SEC in May.
TheBlockRepublican lawmakers, led by Sen. Tommy Tuberville, want the Justice Department and Securities and Exchange Commission to look into Prometheum’s statements around Chinese investment. The company became subject of increased scrutiny after its co-CEO testified before a House committee last month, arguing that digital asset firms can operate within current securities laws.
TheBlock