HFSC GOP Accuses SEC, FINRA of Crypto-Bill Sabotage
Accusing the SEC of preempting HFSC Republicans’ crypto legislative efforts via FINRA, HFSC Chairman McHenry (R-NC) and 22 other Committee Republicans today sent letters to SEC Chairman Gensler and FINRA CEO Robert Cook arguing that the timing of Prometheum Ember Capital LLC’s approval to operate as a special purpose broker-dealer (SPBD) was calculated to show that the SEC’s current crypto regulatory powers are sufficient. The letters highlight that Prometheum is unable to perform clearing or settlement services and has yet to serve any customers, also noting what are said to be the company’s close ties to the Chinese Communist Party.