Robinhood Markets has revealed that it has received an investigative subpoena from the United States Securities Exchange Commission over its digital asset business’ crypto listings, custody and platform operations.
In a 10-K filing, the brokerage said it received the investigative mahkeme çağrısı in December, a month after crypto exchange FTX filed for bankruptcy and following the bankruptcy filings of “several other major cryptocurrency trading venues and lending platforms earlier in 2022,” including Three Arrows Capital, Voyager Digital Holdings and Celsius Network.
The investigative subpoena was in relation to its cryptocurrency listings and custody services, which they said came in response to the crypto bankruptcies last year:
"Aralık 2022'de, 2022 Kripto İflaslarının ardından SEC'den, diğer konuların yanı sıra RHC'nin desteklediği kripto para birimleri, kripto para birimlerinin saklanması ve platform operasyonlarıyla ilgili bir soruşturma mahkeme celbi aldık."
In April 2021, Robinhood Alınan subpoenas from the California Attorney General’s Office seeking information about its crypto arm’s trading platform, business and operations, custody of customer assets and coin listings.
Robinhood’s crypto division was hit with a $30 million fine by the New York District of Financial Services on Aug. 2 for failing to “invest the proper resources and attention to develop and maintain a culture of compliance.”
The brokerage was also scrutinized by the Massachusetts Securities Division in August 2021 for allegedly targeting inexperienced investors.
Investigative subpoenas are issued by a court at the request of another person or entity for the purposes of obtaining the information necessary to decide whether to pursue legal action against the subpoenaed person or entity.
Cointelegraph reached out to Robinhood but the firm declined to comment on the matter.
Source: https://cointelegraph.com/news/robinhood-subpoenaed-by-sec-over-crypto-listings-and-custody