These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler - Ep. 499
May 30, 2023
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Aaron Kaplan and Rosario Ingargiola, leaders in digital asset trading, delve into the path toward regulatory compliance in the crypto landscape. They discuss the recent landmark approval for Prometheum as a broker-dealer and why the industry must embrace regulatory frameworks. The duo contrasts traditional finance with crypto operations, critiques the regulatory clarity's portrayal by incumbents, and backs SEC Chair Gary Gensler's view on crypto securities. Their insights illuminate the role of compliance in shaping the future of digital assets.
“Lack of regulatory clarity” is the catchall complaint levied against U.S. regulators by most major players in the crypto industry. But the founders of Bosonic and Prometheum disagree. Both firms have spent years chasing the necessary regulatory approvals to compliantly trade digital assets, including those seen as securities. Last week, Prometheum secured a potentially landmark approval to operate as a special purpose broker-dealer for digital asset securities. Prometheum co-founder Aaron Kaplan and Rosario Ingargiola, founder of Bosonic, which earlier secured a similar approval, discuss why big players like Coinbase need to quit carping in the court of public opinion and do the hard work of getting approved.