The SEC is at it once more.
Over the weekend we discovered that the SEC has despatched a Wells Discover to Robinhood concerning its crypto actions.
The SEC stated that it has “made a preliminary willpower recommending that the SEC file an enforcement motion towards the [crypto] unit for alleged violations of the Securities Trade Act of 1934”.
If ever there was an argument for brand spanking new crypto regulation within the U.S., that sentence is it. We actually are regulating crypto from guidelines written 90 years in the past. Yeah, that looks like a good suggestion.
Robinhood printed this response this morning, arguing it has tried to interact with the SEC, like many different crypto exchanges, searching for regulatory readability however the regulator has responded with the specter of an enforcement motion.
Robinhood stories earnings on Wednesday the place I’m certain this shall be a subject of debate.
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