Robinhood CEO reveals 16 prior meetings with SEC before Wells notice, emphasizes growing significance of cryptocurrency assets

In an interview with CNBC, Vlad Tenev, co-founder and CEO of Robinhood, stated that his company had held 16 meetings with the U.S. Securities and Exchange Commission (SEC) before receiving a notice from Wells, a regulatory agency. Tenev pointed out that as cryptocurrencies become increasingly important, Americans should have the ability to use them. He said, “The SEC has the power to change the rules and allow brokers to accommodate cryptocurrencies, but they seem unwilling to do so. Instead, they are regulating through enforcement. This is disappointing, and I don’t want to be in this position, but we must defend ourselves and advocate for our customers. We truly believe that cryptocurrencies are becoming more and more important, and if Americans cannot access them, we will not accept it.”