The Securities and Exchange Commission (SEC) is investigating the exchange platform Robinhood Crypto, LLC.
Robinhood says it received a “Wells Notice” from the US Securities and Exchange Commission on May 4. The exchange platform has reportedly cooperated with the investigation. The SEC alleges a violation of the Securities Exchange Act in the exchanges’ crypto operations. The Securities and Exchange Commission is investigating the exchange platform Robinhood Crypto, LLC.
The SEC filing shows that the regulator is investigating Robinhood’s crypto listings, and crypto custodian operations. It also signals that the regulator is considering to carry on enforcement actions for alleged violation of the Securities Act. In a blog post on Monday, Chief Legal Officer at Robinhood says the exchange made attempts to work with the SEC for regulatory clarity, but these attempts failed.
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