Robinhood CEO: We had 16 meetings with the SEC before receiving the Wells notice

Robinhood CEO Vlad Tenev revealed that prior to receiving a Wells Notice from the US SEC, the company had already held 16 meetings with the SEC in order to register as a special purpose broker-dealer supporting crypto assets, but unfortunately did not receive a positive response. Vlad Tenev added that the regulatory agency "told us they didn't want to continue discussing this issue, they couldn't see a path to reaching the goal," and pointed out that it is "difficult to understand" the reasons behind the SEC's decision.