{"id":610,"date":"2024-05-06T20:52:32","date_gmt":"2024-05-06T20:52:32","guid":{"rendered":"https:\/\/usatrustedlawyers.com\/blog\/sec-escalates-fight-with-robinhood-sending-wells-notice-over-crypto-unit\/"},"modified":"2024-05-19T16:48:53","modified_gmt":"2024-05-19T16:48:53","slug":"sec-escalates-fight-with-robinhood-sending-wells-notice-over-crypto-unit","status":"publish","type":"post","link":"https:\/\/usatrustedlawyers.com\/blog\/sec-escalates-fight-with-robinhood-sending-wells-notice-over-crypto-unit\/","title":{"rendered":"SEC Escalates Fight With Robinhood, Sending Wells Notice Over Crypto Unit"},"content":{"rendered":"<div>\n<p>Robinhood legal chief Dan Gallagher\u2019s life just got harder. Over the weekend, the company <a href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/0001783879\/000178387924000138\/hood-20240504.htm\" rel=\"nofollow noopener\" target=\"_blank\">disclosed in an 8-K<\/a> that it received a \u201cWells Notice\u201d from the <a href=\"https:\/\/www.usatrustedlawyers.com\/\">U.S<\/a>. Securities and Exchange Commission, indicating that it is preparing to sue Robinhood over its cryptocurrency unit.<\/p>\n<p>The notice said staff made a \u201cpreliminary determination\u201d to recommend that the commission file an enforcement action against Robinhood Crypto for violating securities laws. This comes after Robinhood was hit with investigatory subpoenas earlier this year over its cryptocurrency listings and platform operations.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Robinhood legal chief Dan Gallagher\u2019s life just got harder. Over the weekend, the company disclosed in an 8-K that it received a \u201cWells Notice\u201d from the U.S. Securities [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[878,873,835,877,874,762,875,879,876],"class_list":["post-610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lawyers","tag-crypto","tag-escalates","tag-fight","tag-notice","tag-robinhood","tag-sec","tag-sending","tag-unit","tag-wells"],"_links":{"self":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=610"}],"version-history":[{"count":1,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/610\/revisions"}],"predecessor-version":[{"id":866,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/610\/revisions\/866"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media\/611"}],"wp:attachment":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}