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

Robinhood CEO Vlad Tenev revealed that before receiving the Wells Notice from the U.S. SEC, it had 16 meetings with the SEC in order to register as a special purpose broker dealer supporting crypto assets, but did not receive a positive response. Vlad Tenev added that the regulator "told us that they did not want to continue discussing this issue and they could not see a path to achieve their goals," and pointed out that it was "difficult to understand" the reasons behind the SEC's decision. (Decrypt)