Robinhood's crypto arm receives SEC warning over alleged securities violations

Robinhood's cryptocurrency division received a Wells notice from the SEC, indicating potential enforcement action for alleged securities violations. This follows the company's cooperation with the SEC on investigative subpoenas concerning its crypto operations. Robinhood, which recently delisted certain tokens amid regulatory pressures, disputes the classification of its listed assets as securities and is prepared to contest any legal challenges. This situation mirrors previous SEC actions against other major platforms like Coinbase and Binance.