Robinhood Markets has revealed thait had obtained an investigative subpoena from the USA Securities Change Fee (SEC) over its digital asset enterprise’ crypto listings, custody and platform operations.
In a 10-Okay submitting, the brokerage mentioned it obtained the investigative subpoena in December shortly after crypto alternate FTX filed for chapter in November, and after “a number of different main cryptocurrency buying and selling venues and lending platforms earlier in 2022,” together with Three Arrows Capital, Voyager Digital Holdings and Celsius Community.
The investigative subpoena was in relation to its cryptocurrency listings and custody companies, which they mentioned got here in response to the crypto bankruptcies final yr:
“In December 2022, following the 2022 Crypto Bankruptcies, we obtained an investigative subpoena from the SEC relating to, amongst different matters, RHC’s supported cryptocurrencies, custody of cryptocurrencies, and platform operations.”
Robinhood mentioned it had additionally obtained subpoenas from the California Lawyer Normal’s Workplace in search of details about its crypto arm’s buying and selling platform, enterprise and operations, custody of buyer belongings and coin listings.
The brokerage has additionally been subjected to regulatory examination by the New York District of Monetary Providers (NYDFS) and Massachusetts Securities Division (MSD) prior to now.
Investigative subpoenas are issued by a courtroom on the request of one other individual or entity for the needs of acquiring the knowledge essential to resolve whether or not to pursue authorized motion towards the subpoenaed individual or entity.
Cointelegraph reached out to Robinhood however the agency declined to touch upon the matter.
This can be a growing story and extra info can be added because it turns into obtainable.
