U.S. Senator Thomas Tuberville Asks DOJ, SEC to Investigate Prometheum

Senator Thomas Tuberville (R-Ala.) asked Attorney General Merrick Garland and SEC Chair Gary Gensler in an open letter to investigate Prometheum, a special-purpose broker that recently secured federal permissions to offer crypto trading services. The letter alleges that CEO Aaron Kaplan's congressional testimony that Prometheum began developing its own blockchain platform independently in December 2019 conflicts with SEC filings through 2021 describing ongoing development with Chinese partner Wanxiang. A Prometheum spokesperson denied the allegations, saying the company "did not misrepresent" its relationship with Wanxiang. Congressmen Blaine Luetkemeyer, Barry Loudermilk, Ralph Norman, Byron Donalds and Mark Alford also signed the letter.