On May 20th, according to Fortune magazine, compliance digital asset company Prometheum launched an Ethereum custody service last Friday. The move is notable because Prometheum operates by classifying the token as a security and subject it to the supervision of the Securities Exchange Commission (SEC). The launch of the custody service appears to validate the position of SEC Chairperson Gary Gensler, who counters the broader crypto industry view that the existing regulatory regime is adequate and effective.
This removes a lot of the debate about being inoperable under current law, said Aaron Kaplan, co-CEO of Prometheum Inc., the parent company of the entity that launched the Ethereum custody service.
Prometheum Inc., a subsidiary of Prometheum that holds a brokerage license, has soft-launched the product with a small group of companies and plans to fully launch the custody service in early June.
Fortune: Prometheum Launches Ethereum Custody Service
2024-05-20 12:14:48
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