{"id":32042,"date":"2024-06-07T06:09:11","date_gmt":"2024-06-07T06:09:11","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/robinhood-to-acquire-bitstamp-despite-sec-scrutiny\/"},"modified":"2024-06-07T06:09:11","modified_gmt":"2024-06-07T06:09:11","slug":"robinhood-to-acquire-bitstamp-despite-sec-scrutiny","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/robinhood-to-acquire-bitstamp-despite-sec-scrutiny\/","title":{"rendered":"Robinhood to Acquire Bitstamp Despite SEC Scrutiny"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Retail trading giant Robinhood is set to acquire the crypto exchange Bitstamp for $200 million, even as it navigates legal challenges from the U.S. Securities and Exchange Commission (SEC). The acquisition underscores Robinhood\u2019s ambitions to expand its crypto business.<\/p>\n

Robinhood\u2019s purchase of Bitstamp<\/a>, a well-established crypto exchange founded in 2011, marks a significant move for the company. Bitstamp, known for its strong global presence with over 50 active licenses and registrations, will bolster Robinhood\u2019s position in the crypto market. Johann Kerbrat, Robinhood\u2019s general manager of crypto, emphasized the importance of this acquisition:<\/p>\n

\u201cThe acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp\u2019s highly trusted and long standing global exchange has shown resilience through market cycles. By seamlessly coupling customer experience with safety across geographies, the Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors. Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.\u201d<\/em><\/p>\n

However, the deal still awaits regulatory approval and is expected to close in the first half of next year.<\/p>\n

Navigating SEC Challenges<\/h2>\n

This acquisition comes at a time when Robinhood is under scrutiny from the SEC. In May, the SEC issued Robinhood a Wells Notice, signaling potential legal enforcement action. Dan Gallagher, chief legal, compliance, and corporate affairs officer at Robinhood Markets, Inc., has responded by asserting that Robinhood does not list securities on its platform:<\/p>\n

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Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong> <\/p>\n

New players only. Exclusive Welcome Bonus of up to $2,500<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\u201cWe firmly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to make clear just how weak any case against Robinhood Crypto would be on both the facts and the law.\u201d<\/em><\/p>\n

Robinhood CEO Vlad Tenev has also voiced his concerns about the SEC\u2019s approach:<\/p>\n

\u201cThe SEC has the ability to change the rules to allow for brokers to accommodate crypto assets and they do not seem intent on doing that. Rather they are proceeding with regulation by enforcement and that is disappointing.\u201d<\/em><\/p>\n

Despite these regulatory hurdles, Robinhood\u2019s acquisition of Bitstamp highlights its determination to enhance its crypto offerings and expand its global reach.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Retail trading giant Robinhood is set to acquire the crypto exchange Bitstamp for $200 million, even as it navigates legal challenges from the U.S. Securities and Exchange Commission (SEC). The acquisition underscores Robinhood\u2019s ambitions to expand its crypto business. Robinhood\u2019s purchase of Bitstamp, a well-established crypto […]<\/p>\n","protected":false},"author":34,"featured_media":32043,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32042"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=32042"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32042\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/32043"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=32042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=32042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=32042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}