BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Trading App Robinhood Issues Warning About Crypto Regulation Hurting Their Business Model

Trading App Robinhood Issues Warning About Crypto Regulation Hurting Their Business Model
Trading app giant Robinhood is issuing a warning about the potential damage future crypto regulations could do to its business.
In an amendment to an S-1 Form filed with the U.S. Securities and Exchange Commission (SEC), the financial services company lays out the numerous risks related to its cryptocurrency products and services.
 
Some of those risks involve the haziness surrounding what future industry regulations might look like, according to Robinhood .
“The regulatory landscape involving cryptocurrencies is constantly evolving and [Robinhood Crypto] may be subject to fines, penalties, or loss of regulatory licenses if the SEC or any other regulators issue new regulations or interpretive guidance related to cryptocurrencies that prohibit any of our current business practices.”
Customers began testing cryptocurrency  wallets  on Robinhood this month. In September, the trading platform rolled out a new feature that allows crypto investors to buy digital assets  commission-free  on a recurring basis.
In the SEC filing, Robinhood notes that it can’t guarantee that the company’s wallets will be protected. The trading platform says it holds the “overwhelming majority” of its crypto in storage, but also uses wallets to support day-to-day operations.
“We cannot provide assurance that any or all of our wallets will not be hacked or compromised such that cryptocurrencies are sent to one or more private addresses that we do not control, which could result in the loss of some or all of the cryptocurrencies that RHC holds in custody on behalf of customers. Any such losses may be significant, and we may not be able to obtain insurance coverage for some or all of those losses.”
In January, Robinhood  restricted its customers from buying crypto altogether, citing “extraordinary market conditions.” The firm also halted users from buying shares in Gamestop (GME), which rapidly rose in price after a flurry of retail trading buzz on Reddit.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter , Facebook and Telegram

Surf The Daily Hodl Mix
 

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.


Featured Image: Shutterstock/pixelparticle
The post Trading App Robinhood Issues Warning About Crypto Regulation Hurting Their Business Model appeared first on The Daily Hodl .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Trading App Robinhood Issues Warning About Crypto Regulation Hurting Their Business Model


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News