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SEC Moves Toward Enforcement Action Against Robinhood’s Crypto Arm

SEC Moves Toward Enforcement Action Against Robinhood’s Crypto Arm

Robinhood received a “Wells Notice” saying the SEC’s staff had made a “preliminary determination” to recommend to the agency’s commissioners that it file an enforcement action alleging violations in its crypto arm. Robinhood said it is disappointed it received the notice. Robinhood Markets said the Securities and Exchange Commission staff has recommended enforcement action against its crypto arm.