On the House Financial Services Committee, lawmakers probed into the conditions surrounding FINRA's greenlighting of Prometheum's unique broker-dealer license in May. The committee, including its Chair, Patrick McHenry, and 20 other members, sent distinct letters on August 9th to both the SEC's Chair, Gary Gensler, and FINRA's CEO, Robert Cook. The correspondence highlighted their concerns over FINRA's decision-making process in relation to Prometheum's license, especially amidst ongoing discussions about digital asset regulatory gaps.
Though Prometheum markets itself as a pivotal solution for regulated digital asset transactions, the lawmakers pointed out that the firm hasn't catered to a single client. They expressed surprise at FINRA's decision to approve a company that's new and has no established reputation over many other
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First found on: U.S. legislators question SEC and FINRA regarding Prometheum's broker-dealer endorsement.
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