Compass Investments

Crypto vs. Dollar

📌 Gary Gensler on cryptocurrency oversight, fraudulent checks and market manipulation.

When asked about the future, Mr. Gensler expressed his focus on his current role and the privilege of serving as SEC Chairman. He said he intends to remain in his position until 2026, helping to strengthen U.S. capital markets and protect the interests of investors. Robinhood

– When asked about the future, Mr. Gensler expressed his focus on his current role and the privilege of serving as SEC Chairman. He said he intends to remain in his position until 2026, helping to strengthen U.S. capital markets and protect the interests of investors.

Earlier this week, Robinhood Markets, Inc (Nasdaq: HOOD) announced that its subsidiary Robinhood Crypto (RHC) received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) staff. The notice indicates that the SEC is considering a recommendation to take enforcement action against RHC. Robinhood, a prominent player in the financial technology industry, expressed disappointment with the SEC’s decision and emphasized that he has long sought to work with the SEC to clarify the regulation of the crypto industry.

Dan Gallagher, Robinhood’s chief legal, regulatory and corporate affairs officer, emphasized that the company has long sought meaningful engagement with the SEC Robinhood has actively sought guidance from the regulator, including through its “come and register” initiative with the SEC. It actively sought to do so. Nevertheless, the company was upset to receive a notice from Wells, but intends to stick to its path.

Robinhood Crypto maintains that the digital assets offered on its platform are not securities. The company intentionally avoids listing certain tokens and offers services such as lending and equity offerings. This is a practice that the SEC has challenged as securities in previous proceedings against other platforms.

Despite the possibility of enforcement action, Robinhood is confident in its legal position and intends to actively engage with the SEC to strengthen its case. We believe the facts and the law support our position, and we are prepared to address the weaknesses of any potential litigation against Robinhood Crypto.

Bitcoin

Bitcoin

$64,705.31

BTC -0.96%

Ethereum

Ethereum

$3,419.51

ETH -2.15%

Binance Coin

Binance Coin

$583.68

BNB -2.23%

XRP

XRP

$0.48

XRP -4.75%

Dogecoin

Dogecoin

$0.12

DOGE -7.61%

Cardano

Cardano

$0.37

ADA -6.34%

Solana

Solana

$136.29

SOL -3.40%