Crypto firm Prometheum gained an edge under Gary Gensler’s SEC. Suddenly its future appears less certain
For years, the crypto industry has complained about the Securities and Exchange Commission’s hardline stance, and its refusal to develop rules that account for blockchain’s distinct technology. One firm, though, claimed the SEC’s current crypto rules are just fine. This stance has paid off as the firm, Prometheum, won a first-of-its-kind license for crypto-based securities and—despite being virtually unknown in the crypto world—landing a prestigious slot in 2023 to testify about digital assets before Congress.
But now Prometheum has a problem. The election of pro-crypto Donald Trump has led SEC Chair Gary Gensler to announce he will quit his position early next year, so now the firm—whose apparent inside track with the…
