ChainCatcher news, according to Fox Business reporter Eleanor Terrett's post on the X platform, some Republican members of the Financial Services Committee, led by U.S. Congressman John Rose, have sent a letter to SEC Chairman Gary Gensler and FINRA CEO Robert Cook, expressing concerns about their continued silence regarding the Ethereum custody service launched by Prometheum Inc. in May of this year, which the relevant regulatory agencies believe falls under the so-called "crypto asset securities."The letter points out that the silence of these agencies on this matter indicates that, given the SEC has already acknowledged that ETH is not a security, and the term "crypto asset securities" does not apply to the tokens themselves but rather to the manner in which the tokens are sold, it has created market confusion and uncertainty.John Rose stated in the letter: "Participants in the digital asset space deserve certainty from regulators, yet under Gary Gensler's leadership, they have only received chaos and confusion. I hope that as Chairman Gary Gensler cleans out his office, he will seriously listen to our concerns and provide some real guidance before he leaves."

ChainCatcher news, according to official sources, tZERO Group Inc. announced that tZERO digital asset securities have received approval from both the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), becoming a specialized broker-dealer for the custody of new types of digital asset securities.

ChainCatcher news, according to Cointelegraph, the Financial Industry Regulatory Authority (FINRA) has released its 2024 Annual Regulatory Oversight Report, which for the first time includes a dedicated chapter on cryptocurrency titled "Development of Cryptocurrency Assets and Advertising Volume."The cryptocurrency section targets companies currently engaged in or planning to engage in cryptocurrency-related activities. The report states that "FINRA's Member Application Program (MAP) follows SEC guidance to evaluate a company's proposed cryptocurrency securities business line in accordance with applicable rules (such as SEC's financial responsibility rules and customer protection rules)."The organization also requires its members to notify it when engaging in activities related to non-security cryptocurrency assets, as well as when related personnel are involved in external business activities related to cryptocurrency, private securities transactions, and cryptocurrency mining operations.

ChainCatcher news, according to Cointelegraph, after the FTX collapse, the Financial Industry Regulatory Authority (FINRA) has launched an investigation into the retail communications related to the cryptocurrency products and services offered by the company. According to an announcement on FINRA's official website, it is conducting targeted examinations of retail communications involving cryptocurrency asset products and services from major companies, covering the period from July 1, 2022, to September 30, 2022.FINRA requires companies to provide additional information for each communication, such as the date of the initial public offering, whether it was filed with FINRA's advertising regulatory department, whether the company's responsible person approved the communication, and identification of the cryptocurrency assets or services mentioned in the communication. In addition to any relevant compliance rules or materials, FINRA also requires companies to submit written supervisory procedures to "review, approve, record, and disseminate" communications. (Cointelegraph)