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TL;DR
The SEC has just lately given a ‘particular objective broker-dealer’ license to a crypto buying and selling platform referred to as Prometheum.
Utilizing this for example to level to and say: ‘See, crypto exchanges can come into compliance underneath the present legal guidelines and be simply wonderful.’
Solely downside is: Prometheum does not commerce any cryptocurrencies – the truth is, the platform is not even reside but.
The trick of all of it being: Prometheum will not be capable to go reside and assist most crypto trades with out falling out of compliance underneath the present securities legal guidelines.
Full Story
You realize that flat-Earth documentary on Netflix, Behind the Curve?
It is the one the place, on the finish, they run an experiment to point out the Earth is flat, however unintentionally show the other.
This newest SEC story is so much like that.
ICYMI: the SEC has been claiming the present securities legal guidelines (written within the 1930’s) do not want any tweaking for crypto exchanges like Coinbase to have the ability to:
Come into compliance
Proceed to function as typical
Coinbase has responded one thing alongside the strains of:
‘We will not see a manner of coming in to compliance with out these legal guidelines crippling our enterprise/trade – and once we’ve requested you to point out us how one can safely comply, we get radio silence (and legislation fits) in return.’
Properly…
The SEC has just lately given a ‘particular objective broker-dealer’ license to a crypto buying and selling platform referred to as Prometheum.
(Utilizing this for example to level to and say: ‘See, crypto exchanges can come into compliance underneath the present legal guidelines and be simply wonderful.’)
…solely downside is:
Prometheum does not commerce any cryptocurrencies – the truth is, the platform is not even reside but.
The trick of all of it being:
Prometheum will not be capable to go reside and assist most crypto trades with out falling out of compliance underneath the present securities legal guidelines.
So whereas the SEC is parading Prometheum round because the poster baby of a compliant crypto trade…it is sort of proving the other.
BBTCE (Large ‘Behind the Curve’ Vitality).
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