The SEC is investigating US-based Robinhood Markets over securities violations alleged in the crypto app.
Robinhood received investigative subpoenas regarding its 'cryptocurrency listings, custody of cryptocurrencies, and platform operations'.
The SEC sent a Wells Notice recommending an enforcement action for alleged violations of the Securities Exchange Act of 1934.
Robinhood maintains that the assets on its platform are not securities and states readiness to engage with the SEC on the matter.
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