Robinhood pushed the SEC in a high-profile meeting to clarify crypto rules, criticizing case-by-case litigation and urging a structured regulatory framework.
The U.S. Securities and Exchange Commission (SEC)’s Crypto Task Force met with representatives from Robinhood Markets Inc. on Feb. 19 to discuss regulatory approaches for cryptocurrency.
Executives from Robinhood, including General Counsel Lucas Moskowitz and Deputy General Counsel John Markle, participated in discussions covering special-purpose broker-dealers for crypto, staking, and the application of securities laws to tokenized assets. The meeting also addressed recent SEC enforcement actions and how new case law affects the classification of digital assets, including meme coins. The Crypto Task Force was established by SEC Acting Chair Mark Uyeda and is led by Commissioner Hester Peirce, who has been an advocate for clearer regulatory guidelines in the crypto industry.
Robinhood submitted a letter to the SEC in response to its request for public input on the newly formed Crypto Task Force. While supporting the initiative, the company criticized the lack of clear regulatory guidelines in the U.S., arguing that the SEC’s current approach—determining securities status through litigation—is inefficient. Robinhood cited U.S. District Court Judge Amy Berman Jackson’s remark that regulating crypto “case by case, coin by coin, court after court” risks inconsistent outcomes and confusion in the industry.
The company also referenced previous congressional testimony, which outlined concerns over former SEC Chair Gary Gensler’s enforcement-driven regulatory strategy. Robinhood urged the SEC to use its existing authority under the Securities Exchange Act of 1934 to implement a provisional regulatory framework for digital assets, including registration requirements, record-keeping mandates, consumer protections, custody regulations, and transaction reporting.
This meeting occurred days before Robinhood announced that the SEC had officially closed its investigation into Robinhood Crypto. The probe, part of the SEC’s broader scrutiny of digital asset platforms, examined whether Robinhood’s crypto offerings violated securities laws. The company welcomed the decision, reaffirming its commitment to compliance and efforts to help shape clear industry regulations.
Besides Robinhood, the SEC crypto task force also met with Microstrategy Executive Chairman Michael Saylor, as well as representatives from Fidelity Management, Zero Hash, and Fireblocks.