Robinhood (NASDAQ:HOOD) on Monday said that it received a Wells notice from the SEC, signaling possible enforcement actions related to its cryptocurrency operations.
What Happened: This notice follows a period of investigation into Robinhood’s cryptocurrency listings and custody, as well as its platform operations, according to The Street Insider.
Wells Notices suggest the SEC has sufficient evidence to proceed with actions such as civil injunctions, administrative proceedings, and cease-and-desist orders, potentially involving penalties like disgorgement and activity limitations.
Additionally, this notice follows Robinhood's June removal of cryptocurrencies Cardano ...
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