Robinhood Markets, a retail-trading platform, revealed that it had recently been served with an enforcement action notice from the U.S. Securities and Exchange Commission (SEC) regarding the cryptocurrency tokens traded on its platform. The notice, known as a “Wells notice,” is typically issued by the SEC as a precursor to potential enforcement actions, though it does not imply wrongdoing.
The company’s chief legal, compliance and corporate affairs officer Dan Gallagher stressed the company’s confidence that the assets posted on its marketplace aren’t securities. He also noted that the company was ready to engage with the SEC to demonstrate the weakness of any…
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