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👨💻 We’re Seeing a Trend in SEC-Licensed Cryptocurrency Platforms
SEC Chairman Gary Gensler continues to confront the crypto industry, accusing it of failing to follow the rules. Now the SEC has an example to follow: Utah-based tZero has become the second firm to receive a special-purpose license to custody digital assets.
The license, introduced in December 2020, allows tZero to provide digital asset custody and trading services under the supervision of the SEC and FINRA.
tZero and its competitor Prometheum were the first to receive this license. However, Prometheum has faced criticism for backing the SEC’s view that most digital assets are securities, including Ethereum. tZero, meanwhile, plans to use the license to custody and trade digital assets, including stocks, funds, and other legal securities in the U.S. 💁♂️ This permission could be a signal to other companies in the crypto industry and help clarify the legal status of digital assets. And all the rest could become illegal. 0 reply
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