Unique US-registered crypto securities exchange Prometheum plans to custody leading cryptocurrency Ethereum">Ethereum – launching a pivotal test of both ETH’s disputed regulatory status and the SEC’s own thinly-defined digital asset policies.
By offering custody and trading in Ethereum under its special licenses, Prometheum provokes key questions on if compliance in crypto is even possible given years of SEC ambiguity. It may also force the SEC to finally rule if ether is a security.
If ether trading remains unimpeded at Prometheum, the platform could gain a functional monopoly serving an undisputed security. But the SEC rarely tips its hand, likely remaining vague to the detriment of innovation.
The “Prometheum Test” powerfully shows the lack of clarity from Gary Gensler’s SEC continues handicapping crypto development while enabling regulatory arbitrage. A clearer policy would encourage compliance – instead, dysfunction reigns.
