Robinhood Markets Inc. has received a notice from the Securities and Exchange Commission about alleged securities violations at its crypto division.
The company said in a regulatory filing that it received investigative subpoenas from the SEC about issues including cryptocurrency listings, custody of cryptocurrencies, and platform operations.
Robinhood Crypto has cooperated with the investigation, the company said.
Last week the crypto division received a Wells notice from SEC staff advising the unit that a preliminary determination was made to recommend that the SEC file an enforcement action against Robinhood Crypto for alleged securities violations.
The filing said that the potential action may involve a civil injunctive action, public administrative proceeding or a cease-and-desist proceeding. Remedies that may be sought include an injunction, a cease-and-desist order, disgorgement, pre-judgment interest, civil money penalties, and censure, revocation, and limitations on activities.
They shared a name — but not a future. How two kids fought to escape poverty in Baltimore
Guideline cleans up pollutants
Moment car trying to make a turn goes airborne and crashes into a California home
Double European weightlifting champion Pielieshenko killed in Ukraine war
Confucius Institute in Nepal lauded during 1st inaugural anniversary
Chinese tech firms strive for leadership in global e
Unfazed by danger and power, Guatemalan cardinal keeps up fight for migrants and the poor
The EU's executive decides to end legal standoff with Poland over democracy concerns
Feature: AI system developed by students helps missing children return home
Emily Andre shares sweet snap breastfeeding her baby daughter in hospital as she thanks midwives
Program targets lunar resources