US SEC Probes Robinhood Over Crypto Business

The United States Securities and Exchange Commission (SEC) is probing Robinhood Markets Inc. over its cryptocurrency business.

A regulatory filing released on Monday revealed that the firm received a subpoena in December 2022 about its cryptocurrency listings and custody.

It was gathered that the probe was to understand whether Robinhood provided adequate disclosures to its customers regarding its trading services.

“Any particular cryptocurrency’s status as a “security” is subject to a high degree of uncertainty and if we have not properly characterized one or more cryptocurrencies, we might be subject to regulatory scrutiny, investigations, fines, and other penalties,” Robinhood said.

The firm added that it had received similar subpoenas from the California Attorney General’s office regarding its “trading platform, business and operations, custody of customer assets, customer disclosures, and coin listings.”

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Hong Kong Regulators Greenlight Bitcoin and Ether ETFs
April 16, 2024By
Fugitive Binance Executive Traced to Kenya, Extradition Efforts Intensify
April 15, 2024By
Winklevoss Twins Inject $4.5 Million Bitcoin Investment into Real Bedford Football Club
April 13, 2024By

Advertisement

Video Posts

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin61,692 0.17 % 1.90 % 12.62 %
Ethereum3,004.4 0.03 % 1.78 % 16.05 %
Tether1.001 0.03 % 0.10 % 0.18 %
BNB543.10 0.54 % 0.99 % 9.08 %
Solana132.50 1.54 % 3.21 % 23.42 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %