A blueprint has been drawn up to bring cryptocurrency trading toBroker Prometheum now claims it has a blueprint to bring cryptocurrency trading to the larger regulated market. Prometheum's plan would involve using an exemption created by U.S. regulators 50 years ago to allow trading in stocks subject to certain restrictions. This exemption can be used on a daily basis in the stock market to sell large quantities of shares. Rule 144 is an exemption that allows the public resale of restricted or controlled securities if a number of conditions are met. This includes how long securities are held, how they can be sold, and for how much they can be sold at any time. It is not yet used in the crypto industry.
Currently, cryptocurrency exchanges typically use state rules to circumvent federal requirements when trading cryptocurrencies that are not considered securities. If the digital asset is a security, it must comply with registration and exemption requirements. Prometheum, a startup without a cryptocurrency trading arm, believes it has a way to provide liquidity in crypto assets to both regulated exchanges and established brokerages.