Republican Lawmaker McHenry Demands SEC Chair Gary Gensler Explain How Prometheum Got Approval

The letters raise “serious questions” about whether the SEC championed Prometheum as a poster firm to represent Gensler’s position that no new laws are needed to regulate and police crypto in the U.S., just as McHenry’s committee was about to send digital assets legislation to the House floor. For its part, Prometheum’s executives have insisted that they’ve been going step-by-step through the registration process like any other firm, and co-CEO Aaron Kaplan has argued that his firm will demonstrate the right way to build a crypto platform that’s compliant with current rules.