Aaron Kaplan, co-CEO of Prometheum, the trading platform that recently acquired a special-purpose broker dealer license for digital asset securities, has become a major lightning rod in the crypto community. Does the firm represent, as Kaplan has argued, a compliant path forward for crypto in the United States? Or, as Paradigm Special Counsel Rodrigo Seira maintains, does it only demonstrate that the SEC’s crypto regime is simply unworkable? The two join the show to debate the specifics – and it certainly gets heated.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Show highlights:
whether it is even possible to compliantly register a crypto exchange in the U.S. following SEC Chair Gary Gensler’s recent public statements
which tokens Prometheum can list, if any
why Rodrigo and Aaron disagree over what constitutes a security
whether the Howey Test applies in secondary market transactions for tokens sold pursuant to a SAFT
why Aaron says that Paradigm should reassess its entire thesis and that the status quo benefits venture capital firms like Paradigm
why Rodrigo says Prometheum has a license, but not a business
who would be responsible for providing required disclosures for a decentralized network like Ethereum
how many tokens Aaron expects to list on the Prometheum platform
whether Aaron and Prometheum had specific discussions with the SEC about what tokens are securities
Aaron’s response to allegations that the Chinese Communist Party is infiltrating the U.S. financial system through Prometheum
whether Aaron had previewed the questions he was asked by representatives in his Congressional hearing
what they believe should be included in disclosures about tokens if federal securities laws didn’t exist and guidelines for disclosures were written from scratch
what Aaron has to say about the Blockchain Association’s recent FOIA request
whether Prometheum is open to being acquired by other entity
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Guest:
Aaron Kaplan, co-CEO and co-founder of Prometheum.
Previous appearance on Unchained:
These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler
Aaron’s written testimony
Rodrigo Seira, special counsel at Paradigm.
Rodrigo’s thread on Prometheum
Links
Unchained:
Crypto Community Unearths Questionable History of SEC-Aligned Prometheum
Former SEC Cyber Chief Calls the Agency’s Way of Labeling Tokens Securities ‘Not Fair’
Investopedia: Schwab and Fidelity-Backed Crypto Exchange EDX Goes Live, Adds More Backers
CoinDesk:
Gary Gensler’s Catch-22 Vision of ‘Regulated’ Crypto Brokers
Key Takeaways From House Hearing on Future of Digital Assets
The Crypto Basic: Prometheum Founder Says SEC Will Win Ripple Lawsuit, XRP Community Reacts
Digital Asset Investor’s video on SEC setting up a Chinese back door into crypto
Thread from Blockchain Association’s Marisa Coppel
Adam Cochran points out a slew of details that call Prometheum into question.
Matt Walsh questions how Kaplan can be called a securities expert since the law school he earned his degree from is now unaccredited by the American Bar Association.
A clip from Aaron’s exchange with U.S. Rep Mike Flood
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