Robinhood Says SEC Has Issued Subpoena Regarding Cryptocurrency Transactions | – #Robinhood #SEC #Issued #Subpoena #Cryptocurrency #Transactions
Feb 27 (Reuters) – Robinhood Markets Inc ( HOOD.O ) said in a filing on Monday that in December USA He said he received an investigative subpoena from the Securities and Exchange Commission regarding the list of cryptocurrencies.
The bankruptcy of Sam Bankman-Fried’s FTX was the biggest in a series of major cryptocurrency failures in 2022, which caused cryptocurrency losses and cost creditors billions. dollars faced with loss.
FTX filed for bankruptcy in November, prompting regulatory intervention around the world and hitting investor sentiment in the sector.
The SEC argued that pre-existing securities laws also apply to digital assets and that many cryptocurrencies meet the definition of a security that the crypto industry has previously criticized.
Robinhood, which it acquired from the SEC court said its call related to the currencies supported at the brokerage’s wholly-owned subsidiary, Robinhood Crypto LLC, as well as crypto holdings and other platform transactions.
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Earlier this month, Robinhood also said it planned to buy back its stake in Sam Bankman-Fried’s Emergent Fidelity Technologies because USA prosecutors were in the process of seizing his shares belonging to the former FTX CEO.
Reporting by Anirban Chakroborti in Bengaluru; Edited by Krishna Chandra Eluri
Our standards: Thomson Reuters Trust Principles.
2023-02-28 13:19:17
Source – reuters
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