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SEC Investigates Robinhood’s Cryptocurrency Listings: More Information Requested from Trading Platform

Robinhood Under radar.

The US Securities and Exchange Commission (SEC) is reportedly scrutinizing Robinhood’s cryptocurrency listings. According to a recent report, the SEC has requested more information from the popular trading platform regarding its crypto trading services.

Robinhood offers commission-free trading for several popular cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. However, the SEC has been increasingly vigilant in regulating the crypto industry, particularly with regard to initial coin offerings (ICOs) and securities offerings.

Robinhood has faced scrutiny from regulators in the past, including a $65 million settlement with the SEC in December 2020 over allegations that it misled customers about its revenue sources. The company has also been accused of gamifying investing and encouraging risky trading behavior.

The SEC’s interest in Robinhood’s crypto listings is part of a broader effort to regulate the crypto industry and protect investors from fraudulent schemes. As cryptocurrencies continue to gain mainstream acceptance and adoption, it is likely that regulators will become increasingly involved in their oversight.

Robinhood has not yet commented on the SEC’s request for more information. However, the company has previously stated that it is committed to complying with all regulatory requirements and protecting its customers.

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