US cryptocurrency and inventory firm Robinhood mentioned it stays in lively discussions with the US Securities and Change Fee (SEC) following a warning from the monetary regulator earlier this yr.
CEO Vlad Tenev introduced that the corporate has formally responded to a Wells discover issued by the SEC indicating potential enforcement motion concerning Robinhood’s cryptocurrency operations.
In an interview on Bloomberg Tv, Tenev mentioned the corporate is dedicated to addressing the SEC’s issues. “We spent quite a lot of time ensuring the response was as top quality as potential,” he mentioned. Nevertheless, Tenev didn’t present additional particulars concerning the content material of the response or the subsequent steps within the regulatory course of.
In June 2023, Robinhood delisted Cardano, Polygon, and Solana tokens, which the SEC known as unregistered securities in lawsuits towards Coinbase and Binance.
Robinhood first introduced in December 2022 that there was an SEC investigation into its crypto enterprise.
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