The U.S. Securities and Exchange Commission (SEC) has alerted Robinhood Crypto that the regulatory agency will soon be pursuing legal action against the trading platform.
According to an 8-K Filing submitted over the weekend, Robinhood’s crypto trading arm, Robinhood Crypto, has received a Wells Notice from the SEC.
A Wells Notice is a warning issued by the SEC that it’s planning to pursue legal action against a company and is not an indication of wrongdoing.
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According to Dan Gallagher, chief legal, compliance, and corporate affairs officer at Robinhood Markets, Inc., the company’s crypto trading arm has done no wrong.
“After years of good faith attempts to work with the SEC for regulatory clarity including our well-known attempt to ‘come in and register,’ we are disappointed that the agency has
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