Robinhood CEO Says Firm Has Responded to SEC on Crypto Scrutiny

Robinhood Markets Inc. is continuing to engage with the US Securities and Exchange Commission after receiving a warning from the financial regulator in May, according to Chief Executive Officer Vlad Tenev, foreshadowing an enforcement action.

The retail trading platform has submitted a response to what is known as an SEC Wells notice related to the firm’s cryptocurrency business, Tenev said Thursday in an interview on Bloomberg Television.

WATCH: Robinhood customers are buying the dip, CEO Tenev says.

Source: Bloomberg

“We’ve spent a lot of time making sure that the response is as high-quality as possible,” he said, adding that he had no further updates to share.

Since the pandemic-era retail ...