SEC issues Wells warning for Robinhood crypto deal. https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=717/https://s3.cointelegraph.com/uploads/2024-05/5792b9f8-cf44-4c89-bdc6-f689b19be4ce.jpg
The U.S. Securities and Exchange Commission (SEC) has issued a Wells Notice to Robinhood Crypto, the crypto unit of brokerage firm Robinhood Markets, citing alleged securities violations. The Wells Notice was received on May 4, 2024, and it indicates that the SEC staff has made a preliminary determination to recommend an enforcement action against Robinhood Crypto for alleged securities violations