The CEO of Robinhood Markets Inc (NASDAQ:HOOD) Vlad Tenev expressed his frustration with the U.S. Securities and Exchange Commission led by Chair Gary Gensler after the regulatory body issued a wells notice to the company’s Crypto arm.
What Happened: Tenev, in a recent interview with CNBC’s Last Call, revealed that despite Robinhood’s efforts to engage with the SEC, the regulatory body’s response has been disappointing.
“We actually came in good faith to meet with the SEC. I think we met with them 16 times and, unfortunately, that was not reciprocated,” Tenev said.
Tenev said, “The SEC has the ability to change rules to allow brokers to accommodate crypto assets, and they don’t seem intent on doing that … that’s disappointing.” He added, “We do believe that crypto assets are ...