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SEC Issues Wells Notice to Robinhood’s US Crypto Business

Mary Liu

Summary: Robinhood Markets Inc. said the U.S. Securities and Exchange Commission issued a Wells Notice targeting its crypto business in U.S. markets, with the SEC telling the company it expects to file enforcement actions over alleged securities violations. Dan Gallagher, chief legal, compliance and corporate affairs officer of Robinhood said in a statement: “We firmly believe ...

Robinhood Markets Inc. said the U.S. Securities and Exchange Commission issued a Wells Notice targeting its crypto business in U.S. markets, with the SEC telling the company it expects to file enforcement actions over alleged securities violations.

Dan Gallagher, chief legal, compliance and corporate affairs officer of Robinhood said in a statement: “We firmly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to make clear just how weak any case against Robinhood Crypto would be on both the facts and the law.” 

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