Bitcoin

<ul><li>The SEC has issued a Wells Notice to Robinhood, suggesting impending enforcement action over crypto assets.</li><li>Robinhood Crypto asserts its listed assets are not securities, preparing to contest the SEC&#39;s stance if necessary.</li><li>The SEC continues its rigorous oversight, recently issuing similar notices to other major crypto firms.</li></ul>Robinhood Crypto, the digital assets arm of the popular retail trading platform, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). The <a href="https://www.sec.gov/ix?doc&#61;/Archives/edgar/data/0001783879/000178387924000138/hood-20240504.htm" rel="noopener noreferrer nofollow">filling</a>, issued on May 4, specifically targets the company’s cryptocurrency listings and the way it handles customer assets. Such notices are not a direct accusation of wrongdoing but serve as an indication that the SEC may pursue further legal action.In <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">response</a>, Dan Gallagher, Robinhood’s Chief Legal, compliance, and corporate affairs officer, firmly reiterated the company’s stance. “We firmly believe that the assets listed on our platform are not securities,” Gallagher stated. He emphasized Robinhood&#39;s intention to work with the SEC to highlight “just how weak any case against Robinhood Crypto would be on both the facts and the law.”The SEC has taken an aggressive approach toward digital currency regulation, claiming that most crypto tokens qualify as securities under the Howey Test and should adhere to registration requirements. Crypto firms, however, have often criticized the SEC’s actions as overreaching. Coinbase, another significant player in the crypto exchange space, has also contested the regulator’s classification of crypto tokens. The SEC is currently engaged in a legal battle with <a href="https://cryptotale.org/coinbase-appeals-sec-ruling-seeks-clarity-on-digital-asset-regulations/" rel="noopener noreferrer nofollow">Coinbase</a>.<a href="https://cryptotale.org/robinhood-markets-receives-sec-wells-notice-over-crypto-listings/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Robinhood Markets Receives SEC Wells Notice Over Crypto Listings

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