SEC Targets Another Cryptocurrency Platform: Impact and Implications for Coin Traders

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The US Securities and Exchange Commission (SEC) is reportedly preparing to sue mobile trading app Robinhood.
The SEC has sent a Wells Notice to Robinhood in relation to its cryptocurrency services offered to customers.
Robinhood management expressed their “disappointment” at the SEC’s move, and Robinhood (HOOD) shares began to lose value following the SEC announcement.

Robinhood, the mobile trading app, faces potential legal action from the US Securities and Exchange Commission (SEC) over its cryptocurrency services. This development could have significant implications for the crypto trading landscape.

SEC Prepares to Sue Robinhood

The US Securities and Exchange Commission (SEC) is reportedly gearing up to sue Robinhood, the popular mobile trading app. The SEC has issued a Wells Notice to Robinhood, which is a communication typically sent to individuals and institutions under investigation, indicating that the SEC is considering legal action.

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17m ago•