Prometheum Response: The platform complies with the federal securities laws, and the relationship with Wanxiang and its affiliates has been reviewed by the SEC

Odaily Planet Daily News FOX Business reporter Eleanor Terrett tweeted that Prometheum responded to U.S. Republican lawmakers’ doubts about its encryption broker-dealer license, saying that Prometheum’s technology aims to develop a digital asset securities market infrastructure that complies with federal securities laws. This technology will be the cornerstone of a compliant and orderly digital asset securities market, protecting investors and serving their best interests. Prometheum’s previous relationship with Wanxiang and its affiliates was reviewed by the SEC and closed, while the Committee on Foreign Investment in China (CFIUS) never initiated a formal investigation. It is reported that Prometheum and Wanxiang signed an agreement to develop blockchain transaction software in 2018, but the agreement was later terminated. According to previous reports, Patrick T. McHenry, chairman of the U.S. House of Representatives Financial Services Committee, 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 it to custody digital asset securities from the financial industry regulator, which is regulated by the SEC.