According to Reuters, the SEC sent a “Wells Notice” to the cryptocurrency platform Robinhood.
The Wells Notice is known as a warning that the SEC may file a lawsuit.
Commenting on the Wells Notice, Robinhood said, “It is disappointing that the SEC has decided to issue a Wells notice regarding our crypto business in the United States.” said.
Following the news, Bitcoin fell below $64,000.
*This is not investment advice.