The U.S. Securities and Exchange Commission (SEC) issued a subpoena against Robinhood’s cryptocurrency business shortly after FTX filed for bankruptcy last November, specifically regarding its “cryptocurrency listing, cryptocurrency custody, and platform operations.” Robinhood stated that as part of its business risk list, the US SEC's legal action may cause it to stop digital asset transactions on the platform. "If the US SEC or the court finds that any cryptocurrency supported by our platform is a security, this decision may prevent We continue to facilitate trading in these cryptocurrencies (including ceasing to support such cryptocurrencies on our platform)."