Prometheum Introduces ICO Token Trading Exchange with Regulatory Compliance
cryptocurrency-event-2018

Prometheum to Launch First Regulatory-Compliant ICO Trading Platform

Prometheum has started a partnership with Manorhaven Capital as part of an effort to become the first legal ICO trading platform in the world. The blockchain company, which is focused in adhering to the regulations of the market, has decided to make this strategic partnership because Manorhaven is a company that offers brokerage services.

Aaron Kaplan, which is both a co-founder and the COO of Prometheum has stated that a partnership with a registered broker dealer was a strategic move to form the core elements that are needed to create a legal ICO trading platform that will be accepted by the SEC.

This would be hard otherwise, as the SEC is generally very negative about ICOs in general and the chairman of the commission, Jay Clayton, has stated more than once that “most ICOs are securities”. In fact, the SEC generally advises people to avoid investing in companies that are not registered and do not use alternative trading systems (ATS) or broker dealers.

Pleasing The SEC

To be able to sell tokens without problems from the SEC, the company is moving forward to find solutions. One of them is to try to get compliance via the Reg A+ standard, which was created as an alternative to the traditional IPOs and is focused on smaller companies to help them to gather capital.

Even Ember, which is Prometheum’s token, will try to apply for Reg A+. To appease the SEC, the COO of the company has stated that they will personally be responsible for all the ICOs that will be held by the company and that they may even trade tokens that were not issued on the platform but that they would only do it if they were 100% compliant with the law.

Is Prometheum the face of future? Some may think so. Many exchanges will probably try to follow the regulated laws for selling securities, as many ICOs are being called scams around the world and a regulated platform would be a good way for companies to reach the mainstream investors, which are a market that the crypto world have not yet reached.

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