Robinhood receives a Wells Notice from the SEC for potential cryptocurrency operations enforcement actions.

Robinhood has received a Wells Notice from the SEC, indicating potential enforcement actions related to its cryptocurrency operations. This follows a period of investigation into Robinhood's cryptocurrency listings and custody, as well as its platform operations. Wells Notices suggest the SEC has sufficient evidence to proceed with actions such as civil injunctions, administrative proceedings, and cease-and-desist orders, potentially involving penalties like disgorgement and activity limitations.