Robinhood crypto gets Wells Notice: Investors ‘disappointed’ in the SEC

Once again, the United States Securities and Exchange Commission has issued a Wells Notice, this time directed toward Robinhood Markets, Inc.The notice suggests that the SEC may take action against the trading platform for purported securities violations.

“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.” Underlining a unique perspective on the potential impact on the upcoming US elections, Ryan S Adams, a known crypto investor, noted,ollowing the news, HOOD experienced a significant downturn of approximately 10% during pre-market trading on the 6th of May.“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 decided to issue a Wells Notice related to our U.S.

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