There is no accusation of fraud here. What seems to be happening is, as with similar enforcement actions, Robinhood is being dinged for trading securities improperly, without ticking off the legal requirements for notification, tracking, authentication, etc...
The idea that crypto assets aren't "securities" and thus not subject to SEC regulation is, and always has been, laughable. Virtually everyone trading these things is doing so to engage in arbitrage of fungible assets to make money. I mean, come on.
The idea that crypto assets aren't "securities" and thus not subject to SEC regulation is, and always has been, laughable. Virtually everyone trading these things is doing so to engage in arbitrage of fungible assets to make money. I mean, come on.