February 7th, 2024
Fortune recently published an article featuring Mark Williams, Master Lecturer of Finance, discussing Prometheum’s plan to launch its custodial services for Ether, the native cryptocurrency of the Ethereum blockchain.
Prometheum’s announcement has stirred discussions among legal experts and academics specializing in digital asset regulation. The move challenges the SEC’s previous avoidance of taking a stance on Ethereum’s legal status as a tradable security, potentially prompting regulatory action.
“It’s a gamble…maybe it’s part of their business strategy to force the hand of the SEC,” Williams adds.
Despite uncertainties, a successful launch could challenge the industry’s argument that crypto is incompatible with existing securities laws, providing much-needed clarity.