Robinhood received an investigative subpoena from the SEC regarding its crypto trading operations shortly after FTX filed for bankruptcy last November, the company revealed in its latest 10K filing. By NelWang
The subpoena concerned, among other things, Robinhood’s “cryptocurrency listings, custody of cryptocurrencies, and platform operations.”
Robinhood also received similar subpoena requests from the California Attorney General’s office regarding its trading platform, custody of customer assets, customer disclosures and coin listing. The company said it is cooperating with California’s investigation. In its filing, Robinhood noted that to the extent that the SEC or a court determines that any cryptocurrencies it supports are securities, it could be forced to stop trading those cryptos. Such action could result in regulatory penalties, customer liabilities and judicial or administrative sanctions.The SEC did not immediately respond to a request for comment.
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