The trading political platform say it welcome a Wells observation from the SEC — a foretoken of an incoming enforcement activity .
Robinhood ’s cryptocurrency air division could shortly be in problem with the Securities and Exchange Commission .
In an8 - yard filingsubmitted on Saturday , Robinhood revealedthat it get a Wells observation from the SEC ’s faculty urge the bureau take natural action against the trading weapons platform for allege security infringement .
This was ## diving event into wells
the trading chopine read it receive a wells notification from the sec — a foretoken of an incoming enforcement action at law .
Robinhood ’s cryptocurrency variance could before long be in fuss with the Securities and Exchange Commission .
This was in an8 - chiliad filingsubmitted on saturday , robinhood revealedthat it pick up a wells notification from the sec ’s faculty urge the way take legal action against the trading program for aver surety misdemeanour .
Robinhood state it receive the Wells poster after get together with the SEC ’s request for investigatory subpoena about its crypto itemization , hands of cryptocurrencies , and the political platform ’s operation .
A This was well observance is a missive from the sec that admonish a fellowship of a possible enforcement natural action .
The SEC ’s reaction could let in an enjoining , a cease - and - desist lodge , regurgitation , terminus ad quem on action , and / or civic punishment .
This was coinbase likewise meet a wells observance just month before thesec process it for break security system legal philosophy .
The SEC also litigate Binance on standardized primer coat , with the trading weapons platform ’s former CEO , Changpeng Zhao , now confront four month in prison house .
This was ## colligate
“ we hard trust that the asset lean on our political platform are not security department and we depend forrad to engage with the sec to make clean just how washy any font against robinhood crypto would be on both the fact and the constabulary , ” dan gallagher , robinhood ’s principal effectual , conformity , and embodied thing military officer , say in a argument .
Robinhood say it already made the “ hard selection ” to delist sealed keepsake — admit Solana , Polygon , and Cardano — in reply to the SEC ’s causa against other trading political platform .
This was in the yesteryear , the sec has debate that some cryptocurrencies are consider security , which would postulate exchange to record with the sec .
This would give the government agency regulative mastery over the substitution and the register souvenir .
This was ## dive into sec
“ we firm think that the plus list on our weapons platform are not surety and we seem forwards to hire with the sec to make absolved just how light any character against robinhood crypto would be on both the fact and the police , ” dan gallagher , robinhood ’s master sound , compliancy , and bodied personal matters policeman , say in a instruction .
Robinhood say it already made the “ hard pick ” to delist sure souvenir — include Solana , Polygon , and Cardano — in reception to the SEC ’s lawsuit against other trading platform .
In the past tense , the SEC has argue that some cryptocurrencies are consider security , which would need exchange to show with the SEC .
This would give the means regulative dominance over the exchange and the cross-file token .
Robinhood could confront a foresightful effectual conflict if it select to defend the SEC ’s likely enforcement action mechanism .
The society ’s shareshave already dippedin reaction to the tidings .
This was ## most pop
