SEC targets Robinhood Crypto for securities law breaches

A revealing study co-developed by Visa, the global payments giant, has uncovered that over 90% of stablecoin transactions, a staggering $2.2 trillion in April alone, originate from bots and large-scale traders rather than genuine users.

Moonbirds, an Ethereum NFT collection acquired by Yuga Labs in February, has found itself embroiled in a copyright controversy that exposes the flaws in the crypto world’s obsession with intellectual property (IP). Yuga Labs’ plan to grant Moonbirds NFT holders exclusive commercial rights was hindered by the collection’s prior Creative Commons 0 filing, which had already released the owl characters into the public domain.

• SEC targets Robinhood Crypto for alleged securities law breaches
• Visa reveals 90% of stablecoin transactions are done by bots and big traders
• Moonbirds copyright controversy exposes flaws in crypto’s IP obsession

Data powered by CoinGecko.

SEC targets Robinhood Crypto for alleged securities law breaches

Robinhood’s chief legal officer, Dan Gallagher, a former SEC commissioner himself, expressed disappointment at the agency’s decision, firmly believing that the assets listed on their platform do not constitute securities.

Despite the company’s efforts to work with regulators and avoid listing potentially problematic tokens, the SEC’s preliminary determination has put Robinhood in its crosshairs. With the lack of clear federal guidelines on what constitutes a security or a…