Coin

<ul class="wp-block-list news-points">
 <li>Dan Gallagher criticizes the SEC’s unclear regulatory approach to cryptocurrency regulation.</li>
 <li>Robinhood held over 12 meetings with the SEC but received a Wells notice despite efforts.</li>
 <li>Gallagher calls for a clear, comprehensive regulatory framework to support U.S. innovation.</li>
</ul>
Dan Gallagher, Robinhood’s Chief Legal Officer and a former SEC Commissioner, <a href="https://docs.house.gov/meetings/BA/BA21/20240918/117661/HHRG-118-BA21-Wstate-GallagherD-20240918.pdf" target="_blank" rel="noopener noreferrer nofollow">testified</a> before the U.S. House Financial Services Subcommittee on Digital Assets. Wherein, he criticized the “scorched earth” approach the SEC has on cryptocurrencies.
Gallagher disclosed that Robinhood had over a dozen meetings with the SEC in an effort to register, but still resulted in a Wells notice from the enforcement division.
According to Gallagher, Robinhood to be registered as a digital asset broker-dealer under the SEC. Robinhood claimed to have dedicated efforts and resources to implement the regulations set by the Commission. They spent over a year seeking guidance from the SEC. However, the SEC dismissed all of these dedicated efforts; instead, sent a Wells notice to Robinhood.
Gallagher said that the agency had failed to provide feedback to companies and therefore clarity on the matter…
The post <a href="https://coinedition.com/robinhoods-clo-criticizes-secs-scorched-earth-approach-to-crypto/" rel="noopener noreferrer nofollow">Robinhood’s CLO Criticizes SEC’s ‘Scorched Earth’ Approach to Crypto</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Robinhood’s CLO Criticizes SEC’s ‘Scorched Earth’ Approach to Crypto

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