Fox Reporter: Robinhood C.O. Says He Worked for a Year and a Half to Register and Was Still Notified by Wells

Fox reporter Eleanor Terrett reveals that Dan Gallagher, former SEC commissioner and now Robinhood's chief legal officer, detailed Robinhood's efforts to register - “a dozen meetings and phone calls over a year and a half,” but ultimately received a Wells Notice from law enforcement.

Gallagher criticized the SEC's “scorched earth” approach to cryptocurrencies and recommended that the Commission take immediate steps to provide clarity to the industry. He noted that the SEC has had the authority to establish foundational digital asset regulation since 1996, despite Congress moving forward with much-needed legislation.