{"id":283606,"date":"2021-06-25T12:05:59","date_gmt":"2021-06-25T09:05:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-inquiry-regarding-robinhoods-crypto-business-reportedly-delays-ipo\/"},"modified":"2021-06-25T12:05:59","modified_gmt":"2021-06-25T09:05:59","slug":"sec-inquiry-regarding-robinhoods-crypto-business-reportedly-delays-ipo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-inquiry-regarding-robinhoods-crypto-business-reportedly-delays-ipo\/","title":{"rendered":"# SEC inquiry regarding Robinhood\u2019s crypto business reportedly delays IPO"},"content":{"rendered":"

“# SEC inquiry regarding Robinhood\u2019s crypto business reportedly delays IPO <\/strong>”
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Major cryptocurrency and stock trading app<\/a> Robinhood is reportedly struggling to move forward with its initial public offering due to an ongoing review from securities regulators.<\/p>\n

According to a Thursday report by Bloomberg, the United States Securities and Exchange Commission has been questioning<\/a>\u00a0Robinhood about its cryptocurrency business, resulting in delays for the firm\u2019s public offering plans. The company has been expanding its cryptocurrency offers\u00a0since March, increasing its workforce and adding more crypto trading pairs.<\/p>\n

Citing anonymous people familiar with the matter, the report stated that Robinhood\u2019s IPO plan could be delayed until autumn. As previously reported, Robinhood initially planned to launch its IPO in June but postponed<\/a> the offering to July several weeks ago, with sources claiming that the firm wanted to time its IPO to when people return from the July 4 holiday.<\/p>\n

One of the most popular apps to trade stocks and crypto in the United States, Robinhood confidentially submitted\u00a0a draft IPO registration with the U.S. SEC in March. The company did not originally specify an expected date for its IPO, only stating that it would pursue a public offering \u201cafter the SEC contemplates its review process, subject to market and other conditions.\u201d<\/p>\n

Robinhood did not immedia<\/a>tely respond to Cointelegraph\u2019s request for comment.<\/p>\n

Related: <\/em><\/strong>Robinhood announces new COO to lead crypto trading desk<\/em><\/strong><\/p>\n

After launching cryptocurrency trading in early 2018, Robinhood has seen its crypto business thrive, posting a sixfold quarterly increase in users during the first quarter of 2021. Robinhood\u2019s massive growth this year came despite the controversy around the company suspending trading of Game<\/a>Stop stock\u00a0this January, facing outrage from the trading community and\u00a0increased attention from U.S. regulators.<\/p>\n

Alongside issues related to GameStop, Robinhood also became a target of public criticism after it allegedly offered trading services to inexperienced investors. In April, Massachusetts\u2019 securities regulators sought\u00a0to revoke Robinhood\u2019s broker-dealer license in the state, accusing the firm of providing services to Massachusetts customers with little or no investment experience.<\/p>\n