The SEC Can't Stop Suing Crypto Companies

Robinhood is the latest firm to draw the ire of the U.S. Securities and Exchange Commission (SEC). This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. Apparently, the agency sent the notice after Robinhood cooperated with the SEC’s investigative subpoenas about its crypto operations. As Robinhood legal, compliance, and corporate lead Dan Gallagher noted in a statement, the firm has been in direct communication with the SEC over its crypto offerings for years, which is exactly what you’d expect from a firm that really only dabbles in crypto. These efforts dramatically increased in the wake of the collapse of FTX, which was particularly embarrassing for U.S. regulators given how cozy Sam Bankman-Fried was with them. This is not squarely the fault of the SEC, but also that Congress slept on crypto regulation for over a decade and is now hampered by partisan gridlock. “