Prometheum and Paradigm in Debate: Can the Status Quo Work for Crypto? - Ep. 511

Published: June 27, 2023, 11 a.m.

b'Aaron Kaplan, co-CEO of Prometheum, the trading platform that recently acquired a special-purpose broker dealer license for digital asset securities, has become a major lightning rod in the crypto community. Does the firm represent, as Kaplan has argued, a compliant path forward for crypto in the United States? Or, as Paradigm Special Counsel Rodrigo Seira maintains, does it only demonstrate that the SEC\\u2019s crypto regime is simply unworkable? The two join the show to debate the specifics \\u2013\\xa0and it certainly gets heated.\\nListen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.\\nShow highlights:\\n\\nwhether it is even possible to compliantly register a crypto exchange in the U.S. following SEC Chair Gary Gensler\\u2019s recent public statements\\n\\nwhich tokens Prometheum can list, if any\\n\\nwhy Rodrigo and Aaron disagree over what constitutes a security\\n\\nwhether the Howey Test applies in secondary market transactions for tokens sold pursuant to a SAFT\\n\\nwhy Aaron says that Paradigm should reassess its entire thesis and that the status quo benefits venture capital firms like Paradigm\\n\\nwhy Rodrigo says Prometheum has a license, but not a business\\n\\nwho would be responsible for providing required disclosures for a decentralized network like Ethereum\\n\\nhow many tokens Aaron expects to list on the Prometheum platform\\n\\nwhether Aaron and Prometheum had specific discussions with the SEC about what tokens are securities\\n\\nAaron\\u2019s response to allegations that the Chinese Communist Party is infiltrating the U.S. financial system through Prometheum\\n\\nwhether Aaron had previewed the questions he was asked by representatives in his Congressional hearing\\n\\nwhat they believe should be included in disclosures about tokens if federal securities laws didn\\u2019t exist and guidelines for disclosures were written from scratch\\n\\nwhat Aaron has to say about the Blockchain Association\\u2019s recent FOIA request\\n\\nwhether Prometheum is open to being acquired by other entity\\n\\nThank you to our sponsors!\\n\\nCrypto.com\\n\\nTOKEN2049\\n\\nOKX\\n\\nGuest:\\n\\n\\nAaron Kaplan, co-CEO and co-founder of Prometheum.\\n\\nPrevious appearance on Unchained:\\xa0\\n\\nThese 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler\\n\\nAaron\\u2019s written testimony\\n\\n\\n\\nRodrigo Seira, special counsel at Paradigm.\\n\\nRodrigo\\u2019s thread on Prometheum\\n\\n\\nLinks\\n\\nUnchained:\\xa0\\n\\nCrypto Community Unearths Questionable History of SEC-Aligned Prometheum\\n\\nFormer SEC Cyber Chief Calls the Agency\\u2019s Way of Labeling Tokens Securities \\u2018Not Fair\\u2019\\n\\nInvestopedia: Schwab and Fidelity-Backed Crypto Exchange EDX Goes Live, Adds More Backers\\n\\n\\nCoinDesk:\\xa0\\n\\nGary Gensler\\u2019s Catch-22 Vision of \\u2018Regulated\\u2019 Crypto Brokers\\n\\nKey Takeaways From House Hearing on Future of Digital Assets\\n\\nThe Crypto Basic: Prometheum Founder Says SEC Will Win Ripple Lawsuit, XRP Community Reacts\\n\\n\\nDigital Asset Investor\\u2019s video on SEC setting up a Chinese back door into crypto\\n\\n\\nThread from Blockchain Association\\u2019s Marisa Coppel\\n\\n\\nAdam Cochran points out a slew of details that call Prometheum into question.\\n\\n\\nMatt Walsh questions how Kaplan can be called a securities expert since the law school he earned his degree from is now unaccredited by the American Bar Association.\\n\\nA clip from Aaron\\u2019s exchange with U.S. Rep Mike Flood\\xa0\\n\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'