According to Foresight News: Robinhood Crypto, LLC (RHC), has been handed a Wells Notice by the U.S. Securities and Exchange Commission (SEC) staff. The notice concerns the company's practices including cryptocurrency listing, custody, and platform operations.
The SEC staff have made a "preliminary determination" in favour of recommending the SEC-level charges against RHC. This comes following potential violations of Sections 15(a) and 17A of the Securities Exchange Act of 1934, as amended by the SEC.
