Prometheum Pioneers Regulated Ethereum Custody Service

Monday, 20 May 2024, 16:29

Prometheum has launched the first SEC-compliant Ethereum custody service, signaling a major milestone in regulatory compliance for the industry. The service treats Ethereum as a security, in adherence to U.S. Securities and Exchange Commission regulations, targeting institutional clients initially with plans for retail expansion in 2024. This move could serve as a model for other digital asset companies seeking compliance, potentially validating the SEC's regulatory framework.
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Prometheum Pioneers Regulated Ethereum Custody Service

Prometheum Pioneers Regulated Ethereum Custody Service

Prometheum, a New York-based digital asset firm, has launched the first SEC-compliant Ethereum custody service, treating ETH as a security in line with U.S. Securities and Exchange Commission regulations. The service targets institutional clients and aims for retail expansion in 2024.

Regulatory Milestone Amid Industry Discrepancy

Despite industry opposition to classifying cryptocurrencies as securities, Prometheum has obtained a special-purpose broker-dealer license from the SEC, setting a regulatory precedent for the industry. The move aligns with the SEC's efforts to enforce regulations and clarify digital asset classifications.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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