{"id":18493,"date":"2023-02-28T06:28:34","date_gmt":"2023-02-28T06:28:34","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/02\/28\/robinhood-faces-an-investigative-subpoena-from-us-sec\/"},"modified":"2023-02-28T06:28:34","modified_gmt":"2023-02-28T06:28:34","slug":"robinhood-faces-an-investigative-subpoena-from-us-sec","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/02\/28\/robinhood-faces-an-investigative-subpoena-from-us-sec\/","title":{"rendered":"Robinhood Faces An Investigative Subpoena from US SEC"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><iframe loading=\"lazy\" src=\"https:\/\/coingape.com\/robinhood-faces-us-sec-subpoena-for-its-crypto-operations\/about:blank\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\" data-rocket-lazyload=\"fitvidscompatible\" data-lazy-src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\"><br \/>\n<\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\"><br \/>\n<\/iframe><\/noscript>\n<\/p>\n<p>In a current growth, Robinhood Markets has acquired a subpoena dealing with an investigation from the U.S. Securities and Exchange Commission (SEC) over its crypto operations like crypto itemizing, crypto custody, and many others.<\/p>\n<p>In its newest 10K filings, the zero-commission brokerage app acknowledged that it acquired the investigative subpoena in December, a month after crypto change FTX filed for chapter. During the crypto winter of 2022, a lot of crypto buying and selling and lending platforms filed for chapter.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>Robinhood famous that amid the crypto bankruptcies final 12 months, investigative subpoenas have are available in relation to their crypto listings and custodial enterprise. It <a rel=\"nofollow noopener\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1783879\/000178387923000045\/hood-20221231.htm\" target=\"_blank\">added<\/a>:<\/p>\n<blockquote>\n<p>\u201cIn December 2022, following the 2022 Crypto Bankruptcies, we received an investigative subpoena from the SEC regarding, among other topics, RHC\u2019s supported cryptocurrencies, custody of cryptocurrencies, and platform operations.\u201d<\/p>\n<\/blockquote>\n<h3>Robinhood vs Regulators<\/h3>\n<p>This is just not the primary time that Robinhood has been dealing with scrutiny from US regulators. Back in April 2021, Robinhood acquired subpoenas from the California Attorney General\u2019s Office whereas looking for details about its crypto arms buying and selling platform, coin listings, custody of buyer property, and rather more.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>Last 12 months in August 2022, the New York Department of Financial Services (NYDFS) slapped a $30 million fantastic on Robinhood for failing to \u201cinvest the proper resources and attention to develop and maintain a culture of compliance.\u201d<\/p>\n<p>Investigative subpoenas are the first steps towards acquiring the knowledge essential to determine whether or not they wish to pursue authorized motion in opposition to the respective individual or entity.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>Robinhood Markets has been lately beneath the information particularly pertaining to the chapter proceedings of crypto change FTX. Earlier this month, Robinhood <a href=\"https:\/\/coingape.com\/robinhood-board-approves-buying-sam-bankman-frieds-stake-from-us-doj\/\" target=\"_blank\" rel=\"noopener\">approved<\/a> the buyback of Sam Bankman-Fried\u2019s 55 million shares, value 7.6% stake in Robinhood. They stated that they might be buying the shares on the market worth. However, the timeline for a similar isn\u2019t finalized but.<\/p>\n<p>Vlad Tenev, CEO and Co-Founder of Robinhood Markets, stated: \u201cWe believe it will be accretive over time and removes a distraction for shareholders\u201d.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA140807\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Bhushan is a FinTech fanatic and holds a great aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is constantly in a studying course of and retains himself motivated by sharing his acquired information. In free time he reads thriller fictions novels and typically discover his culinary expertise.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD140807\">\n<p>  The offered content material could embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn&#8217;t maintain any accountability to your private monetary loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/robinhood-faces-us-sec-subpoena-for-its-crypto-operations\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] In a current growth, Robinhood Markets has acquired a subpoena dealing with an investigation from the U.S. Securities and Exchange Commission (SEC) over its crypto operations like crypto itemizing, crypto custody, and many others. In its newest 10K filings, the zero-commission brokerage app acknowledged that it acquired the investigative subpoena in December, a month 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