<ul><li>Robinhood Crypto received a Wells Notice from the SEC, indicating a potential enforcement action.</li><li>Robinhood expressed disappointment, stating they believe the assets on their platform are not securities and are prepared to defend their position.</li></ul>American financial services company, Robinhood Markets, Inc. on Monday announced that its <a href="https://newzchain.com/tag/crypto/?utm_source&#61;coinmarketcap&amp;utm_medium&#61;cmc_article&amp;utm_campaign&#61;RobinhoodNews" rel="noopener noreferrer nofollow">crypto</a> unit, Robinhood Crypto (RHC), has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) staff indicating they will recommend that the Commission file an enforcement action.In the <a href="https://newsroom.aboutrobinhood.com/robinhood-response-to-receipt-of-wells-notice-from-the-u-s-securities-and-exchange-commission/" rel="noopener noreferrer nofollow">announcement statement</a>,  Chief Legal, Compliance and Corporate Affairs Officer of Robinhood Markets, Dan Gallagher stated Robinhood has made various attempts to work with the SEC for regulatory clarity including its well-known attempt to ‘come in and register. However, it is now disappointed that the SEC has decided to issue a Wells Notice.<blockquote>“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,” noted Gallagher.</blockquote>For those unaware, Wells Notices are early warnings that tell companies the SEC has gathered enough information to take legal action against them. These notices often result in enforcement actions by the regulator.For more news related to web3, crypto, blockchain, and more, visit <a href="https://newzchain.com/?utm_source&#61;coinmarketcap&amp;utm_medium&#61;cmc_article&amp;utm_campaign&#61;RobinhoodNews" rel="noopener noreferrer nofollow">Newzchain</a>.

Robinhood Crypto Receives Wells Notice from the U.S. SEC

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