The SEC’s Flat-Earth Theory | Web3 Daily
TL;DR
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The SEC has lately given a ‘particular objective broker-dealer’ license to a crypto buying and selling platform known as Prometheum.
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Utilizing this for instance to level to and say: ‘See, crypto exchanges can come into compliance underneath the present legal guidelines and be simply high-quality.’
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Solely downside is: Prometheum does not commerce any cryptocurrencies – actually, the platform is not even reside but.
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The trick of all of it being: Prometheum will not be capable to go reside and help most crypto trades with out falling out of compliance underneath the present securities legal guidelines.
Full Story
You already know that flat-Earth documentary on Netflix, Behind the Curve?
It is the one the place, on the finish, they run an experiment to indicate the Earth is flat, however by accident show the alternative.
This newest SEC story is loads 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:
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Come into compliance
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Proceed to function as traditional
Coinbase has responded one thing alongside the strains of:
‘We won’t see a means of coming in to compliance with out these legal guidelines crippling our enterprise/business – and after we’ve requested you to indicate us methods to safely comply, we get radio silence (and regulation fits) in return.’
Nicely…
The SEC has lately given a ‘particular objective broker-dealer’ license to a crypto buying and selling platform known as Prometheum.
(Utilizing this for instance to level to and say: ‘See, crypto exchanges can come into compliance underneath the present legal guidelines and be simply high-quality.’)
…solely downside is:
Prometheum does not commerce any cryptocurrencies – actually, the platform is not even reside but.
The trick of all of it being:
Prometheum will not be capable to go reside and help 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 change…it is sort of proving the alternative.
BBTCE (Huge ‘Behind the Curve’ Vitality).
