The US SEC has been investigating Robinhood's crypto division for some time now
Robinhood's crypto division received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) on May 4th. According to the latest filing, the commission staff, led by SEC Chairman Gary Gensler, has been investigating Robinhood's "cryptocurrency listings and trading, cryptocurrency custody, and platform operations" for some time before recommending enforcement action against it.
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