Robinhood CEO Defends Crypto Against SEC Regulations: A Stand for Bitcoin (BTC) and Other Coins

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Robinhood CEO Vlad Tenev criticizes the SEC’s enforcement action notices, describing it as a “regulatory onslaught” that stifles innovation.
Robinhood Crypto, which began offering Bitcoin and Ethereum in 2018, has received a Wells Notice from the SEC, putting it on notice for a potential enforcement action.
Despite previous penalties from regulatory bodies, Tenev asserts that Robinhood Crypto is not afraid of a court battle with the SEC.

Robinhood CEO Vlad Tenev criticizes the SEC’s enforcement actions against crypto, describing it as a stifling regulatory onslaught. Despite previous penalties, Robinhood Crypto remains unafraid of potential court battles.

Robinhood CEO Criticizes SEC’s Regulatory Onslaught

Vlad Tenev, CEO of Robinhood, has become the latest Wall Street power player to criticize the Securities and Exchange Commission’s (SEC) enforcement action notices. Robinhood Crypto disclosed on Friday that it had received a Wells Notice from the SEC, indicating a potential enforcement action. The SEC had previously scrutinized Robinhood Crypto’s token listings and crypto custody practices. Tenev described the SEC’s actions as an “improper attempt by the administrative state to stifle innovation”.