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Robinhood (HOOD) on Monday said it has been informed by the Securities and Exchange Commission that it won't receive any penalties over its cryptocurrency business.

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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Robinhood Markets Inc. has received a notice from the Securities and Exchange Commission about alleged securities violations at its crypto division

Crypto trade association Digital Chamber has slammed the US Securities and Exchange Commission (SEC) for issuing a Wells Notice to Robinhood Crypto, calling it an “alarming development.”

Robinhood Markets said on Monday it received an enforcement action notice from the U.S. Securities and Exchange Commission (SEC) on May 4 over crypto tokens traded on its platform. The company said it received a so-called "Wells notice," which the SEC issues when it is planning to bring enforcement action against them. Such notices do not necessarily mean the company has engaged in wrongdoing.

In February, Robinhood disclosed that it had received subpoenas from the SEC related to its cryptocurrency listings, custody and platform operations.Now it has been sent a Wells notice, which are usually issued to warn companies that the SEC has enough information to take enforcement action.“After years of good faith attempts to work with the SEC for regulatory clarity including our well-known attempt to ‘come in and register,’ we are disappointed that the agency has decided to issue a Wells Notice related to our US crypto business,” says Dan Gallagher, chief legal, compliance and corporate affairs officer, Robinhood in a blog.Gallagher, a former SEC commissioner, adds: “We firmly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to make clear just how weak any case against Robinhood Crypto would be on both the facts and the law.” The company adds that it has already made "difficult choices" to not list some tokens or provide products, such as lending and staking, that the SEC previously alleged are securities in public actions against other platforms.It has stopped support for Cardano, Polygon and Solana on June 27, which were named as securities in SEC lawsuits against Binance and Coinbase.

The US Securities and Exchange Commission warned Robinhood Markets Inc. that it faces an enforcement action over its crypto business — the latest sign that the regulator isn’t letting up on its years-long crackdown on digital assets.

Write to Dan Gallagher at [email protected] Alert!Livemint tops charts as the fastest growing news website in the world

Write to Dan Gallagher at [email protected] Alert!Livemint tops charts as the fastest growing news website in the world

Write to Dan Gallagher at [email protected] Alert!Livemint tops charts as the fastest growing news website in the world

Robinhood Financial agreed Thursday to pay $65 million to settle allegations from the Securities and Exchange Commission (SEC) that the investment platform misled customers and provided overpriced trades.

Cryptocurrency and stock trading app Robinhood announced it will be ending support for Cardano, Polygon and Solana — all tokens labeled as unregistered securities by the United States Securities and Exchange Commission (SEC) in its recent legal actions against crypto exchanges Binance and Coinbase. 

Brokerage firm Robinhood has decided to delist Cardano, Polygon and Solana after the US Securities and Exchange Commission said those three were securities in its charges against two large crypto exchanges this week.

Popular brokerage firm Robinhood is reconsidering its cryptocurrency offerings after the Securities and Exchange Commission took action against two major digital asset trading platforms earlier this week.

The US Commodity Futures Trading Commission Chair Rostin Behnam, Coinbase’s Chief Legal Officer Paul Grewal and a slew of former regulators are set to testify Tuesday morning in front of a US congressional committee.

Robinhood’s chief legal officer Dan Gallagher described the idea of creating a new digital asset regulator was “just plain silly” at a conference on Nov. 17.