The post Uniswap and Arbitrum in Regulatory Crosshairs After Prometheum Custodial Platform Addition appeared on BitcoinEthereumNews.com.

Prometheum Capital plans to add Uniswap (UNI) and Arbitrum (ARB) tokens to its custodial platform, treating them as securities. The classification of these assets as securities is controversial and could impact regulatory discussions. Prometheum, a digital asset trading and custody firm, has announced the addition of Uniswap (UNI) and Arbitrum (ARB) to its custodial platform. These tokens will be combined with Ether (ETH) in what Prometheum calls “digital asset securities.” The custodial services of these assets will be offered by the third quarter of the year.  We’re excited to announce the addition of the following #digitalassetsecurities, Uniswap (UNI) and Arbitrum (ARB), to the Prometheum Capital custodial platform. Institutional and corporate clients will be able to custody Uniswap (UNI), Arbitrum (Arb) and Ethereum’s Ether (ETH)… — Prometheum (@PrometheumInc) August 21, 2024 Prometheum’s decision to classify Uniswap and Arbitrum as securities has raised eyebrows within the crypto community. This is in line with the firm’s earlier position on Ether, which it also treats as a security. The categorization of such decentralized assets as securities might pose considerable consequences, particularly in the context of current and future regulation.  Uniswap, a decentralized cryptocurrency exchange, has previously claimed that UNI is not a security. Uniswap issued a response to the SEC’s Wells notice in April stating that UNI is as decentralized as Bitcoin (BTC) and Ether, which are not traditional securities. Arbitrum, a decentralized autonomous organization (DAO), is also under the spotlight, especially after ARB token holders voted for the ARB staking on August 15. Prometheum’s Expanding Custodial Services Prometheum aims to be an industry titan in the digital asset custody market by extending its services to ETH, ARB, and UNI through its subsidiary Prometheum Capital. Prometheum Capital is a Special Purpose Broker-Dealer (SPBD) that is current with the United States Securities and Exchange Commission…

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Filed under: News - @ August 24, 2024 7:24 am