Led by Chairman Patrick McHenry, Republican lawmakers on the House Financial Services Committee have launched an investigation into the SEC and FINRA regarding the approval of Prometheum as the only special purpose broker-dealer for digital assets, citing no customers, no track record, and ties to the Chinese government.

Republican lawmakers are demanding records from the SEC and FINRA over Prometheum’s approval as the first digital asset special purpose broker-dealer, citing timing, lack of operating history, and national security concerns.

Republican members of the House Financial Services Committee, led by Chairman Patrick McHenry, have demanded documents from the SEC and FINRA regarding the approval of Prometheum as the first special purpose broker-dealer for digital assets. They cite lack of customers, operating history, and alleged ties to the Chinese government.

House Financial Services Committee Republicans, led by Chairman Patrick McHenry, are investigating the SEC and FINRA over the approval of Prometheum as the first special purpose broker-dealer for digital assets, citing lack of customers, Chinese government ties, and questionable timing.

Republican lawmakers on the House Financial Services Committee are investigating the SEC and FINRA for approving Prometheum as the first and only special purpose broker-dealer for digital assets, citing no customers, no operational history, ties to the Chinese government, and suspicious timing that may undermine new legislation.