Prometheum is continuing its strategy to comply with the United States Securities and Exchange Commission (SEC) stance on cryptocurrency trading by adding two UNI Token and ARB, to its custody operations for crypto securities, implicitly affirming that the two coins are securities.
Prometheum’s U.S. custodial business will accept Token issued by Uniswap (UNI) and Arbitrum (ARB), adding to its previous announcement that it would custody Ethereum’s Ether (ETH ), company officials Chia CoinDesk. Treating these Token as securities is intended to bring Prometheum into compliance with what the SEC has said is the law for digital asset transactions in the United States: that the vast majority of Token should be considered securities under the agency’s supervision.
Benjamin Kaplan, CEO of subsidiary Prometheum Capital, Chia in an email response to questions that:
“Prometheum Capital views the federal securities laws as a legal framework that provides proven, tested, and established investor protections. Providing a regulated mechanism to allow investors to responsibly participate in the digital asset space has always been our goal.”
When asked why Prometheum chose UNI and ARB, Mr. Kaplan replied:
“Prometheum Capital intends to provide investors with access to leading digital assets over time, as well as crypto assets, debt, equities, Exchange Traded Fund (ETFs), mutual funds, options, money market funds and other investment contract products issued and transferred on the blockchain.”
