Congressman Torres calls for investigation into SEC deal with Prometheum

The United States Securities Exchange Commission may be under investigation for "a random and brutal approach to digital assets".

The U.S. Securities Exchange Commission (SEC) may be under investigation for “disorderly and brutal approach to digital assets,” or, more specifically, for its “soft deal” with the platform. form of Prometheum encryption.

Such requests were filed July 13 with SEC Inspector General Deborah Jeffrey and Government Accountability Office Comptroller General Gene Dodaro by Congressman Ritchie Torres. In the letters, posted by the congressman on his Twitter, he wrote:

“The SEC refuses to bring any clarity to the application of securities law to digital assets. Its preferred means of communication is neither rule nor guidance but enforcement.”

Torres points to the SEC's decision in May to grant a special broker purpose dealer (SPBD) license to Prometheum, a digital asset platform, created in 2017 by two American financial lawyers. According to Torres, “Prometheum appears to be nothing more than a Potemkin platform, functioning as a convenient talking point for crypto critics rather than an actual trading platform for crypto clients.”< /p>

He calls for a review of both the SEC's failure to create "a workable process for registration" of digital asset platforms and the "unusual backdoor deal" for Prometheum .

Related: "Who the hell" is Prometheum and what has it told Congress about SEC compliance?

Prometheum has recently become a public enemy of the crypto industry and Torres' request for an investigation is not the first. The company came into the limelight after co-founder Aaron Kaplan testified in Congress in June. The problem seems to be Kaplan's general support for the SEC...