Ultimate magazine theme for WordPress.
BTC
$27,788.95
+0.97%
ETH
$1,763.38
+0.95%
LTC
$92.92
+0.72%
DASH
$58.78
-0.61%
XMR
$162.37
-1.1%
NXT
$0.00
+0.97%
ETC
$20.13
-0.2%
DOGE
$0.07
-0.42%
ZEC
$36.18
+1.66%
BTS
$0.01
+1.51%
DGB
$0.01
+1.05%
XRP
$0.45
-2.38%
BTCD
$50.05
0%
PPC
$0.53
+0.97%
CRAIG
$0.01
+0.97%
XBS
$0.92
+0.95%
XPY
$0.00
+40.42%
PRC
$0.00
0%
YBC
$769.38
0%
DANK
$0.01
+0.97%

SEC subpoenaed Robinhood over crypto listings

0


Trading app provider Robinhood was subpoenaed by U.S. securities regulators late last year, according to a filing submitted by the company on Feb. 27.

In that filing, Robinhood said it received an investigative subpoena from the U.S. Securities and Exchange Commission (SEC) concerning various matters such as cryptocurrency listings, crypto custody practices, and platform operations.

The company said it received the subpoena in December 2022 following the collapse of FTX in November (and the collapse of other companies in the summer).

Robinhood said it could face sanctions if the SEC or any court determines it has not complied with securities regulations. The company also said that if its listed cryptocurrencies are determined to be securities, it could be prevented from supporting the trading of those assets. Furthermore, Robinhood said it could be forced to pay regulatory penalties and compensation to its users.

Robinhood made the above statements within its 10-K filing — a required annual report for publicly- and privately-traded companies. Though the filing concerns the fiscal year ending in December 2022, the filing was not submitted or publicized until today.

Despite the SEC’s apparent involvement with Robinhood, there is no indication that the regulator plans to take action against the firm immediately. The company said it cooperates with all investigations in today’s filing.

The news has minimally affected the value of company shares, if at all. Robinhood stock (HOOD) is up 1.36% today but down 0.62% after hours.

Posted In: Exchanges, Regulation



Source link

Leave A Reply

Your email address will not be published.