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Robinhood’s crypto arm receives SEC warning over alleged securities violations
Robinhood could soon face legal action from the SEC.
In an 8-K filing submitted on Saturday, Robinhood revealed that it received a Wells notice from the SEC’s staff recommending the agency take action against the trading platform for alleged securities violations. Robinhood says it received the Wells notice after cooperating with the SEC’s requests for investigative subpoenas about its crypto listings, custody of cryptocurrencies, and the platform’s operations. Robinhood says it already made the “difficult choice” to delist certain tokens — including Solana, Polygon, and Cardano — in response to the SEC’s lawsuits against other trading platforms.
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