Robinhood's Bitstamp Acquisition Could Dampen SEC's Regulatory Influence
CryptoNewsTerminal Staff10 Jun, 2024
Robinhood's Bitstamp Acquisition Could Dampen SEC's Regulatory Influence
Robinhood’s acquisition of Bitstamp highlights the growing importance of cryptocurrency to its business model. In Q1 of 2023, crypto accounted for 20% of Robinhood's revenue. Moreover, the Bitstamp acquisition expands Robinhood's global presence, potentially diminishing the regulatory authority of the U.S. Securities and Exchange Commission (SEC) over the company. The SEC has previously issued a Wells notice to Robinhood.
