US cryptocurrency and inventory firm Robinhood stated it stays in lively discussions with the US Securities and Alternate 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 stated the corporate is dedicated to addressing the SEC’s issues. “We spent a variety of time ensuring the response was as top quality as potential,” he stated. Nevertheless, Tenev didn’t present additional particulars concerning the content material of the response or the following 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 in opposition to Coinbase and Binance.
Robinhood first introduced in December 2022 that there was an SEC investigation into its crypto enterprise.
*This isn’t funding recommendation.
