Republicans Ask SEC to File Prometheum Licensing

Odaily Planet Daily News House Financial Services Committee Chairman Patrick T. McHenry asked Securities and Exchange Commission Chairman Gary Gensler to submit documents related to the license issued by digital asset company Prometheum. The company first received approval in May for a special broker-dealer license allowing them to custody digital asset securities from the financial industry regulator, which is regulated by the SEC. Some Republican lawmakers critical of the SEC said the timing of all this “raises serious questions” as they work on cryptocurrency regulation laws. McHenry said in a letter to Gensler on Tuesday: “While the committee is considering addressing loopholes in the regulation of digital assets, it obtained approval.” hearing to discuss their plans to propose a cryptocurrency regulation bill, McHenry said. “Concerns have been raised by the timing of the approval, which is intended to justify the need for legislation as there is already an applicable regulatory framework for the custody of digital asset securities,” he said.