Regulatory & Compliance | 05.08.24
SEC Prepares To Sue Robinhood Over Crypto Unit
by: Alexander Osipovich; Denny Jacob
The U.S. Securities and Exchange Commission (SEC) is preparing to sue Robinhood Markets’ crypto unit. Robinhood disclosed that its crypto unit received a “Wells Notice” from SEC staff, which said the staff had made a “preliminary determination” to recommend an enforcement action against the unit, called Robinhood Crypto, over alleged violations of securities laws. If the SEC sues Robinhood, it could seek an order that would prevent the company from trading certain crypto assets in the future.
Read the full article on Wall Street Journal