Attorneys representing cryptocurrency and inventory buying and selling app Robinhood (NASDAQ: ) have clashed with legal professionals from the Massachusetts secretary of commonwealth’s workplace over the legality of state regulation that might have an effect on the corporate’s advertising and marketing to potential traders.
William Galvin, Deputy Secretary of the Commonwealth of Massachusetts, Workplace Securities Division filed a criticism in opposition to Robinhood in 2020 alleging in December that the platform illegally focused inexperienced traders, arguing that the observe violated state fiduciary responsibility requirements. Galvin reportedly stated on the time that Robinhood was selling itself as “some sort of sport that you just may be capable of win” and sought to revoke the platform’s broker-dealer license in Massachusetts.
Proceed studying Coin Telegraph.
