Fox: Robinhood's chief legal officer said that he spent a year and a half trying to register but was still notified by Wells

Odaily Odaily Fox reporter Eleanor Terrett posted on X platform that former SEC Commissioner and current Robinhood Chief Legal Officer Dan Gallagher detailed Robinhoo's efforts to register - "more than a dozen meetings and phone calls in a year and a half", but still received a Wells notice from the law enforcement department. Gallagher criticized the SEC's "scorched earth policy" on cryptocurrencies and suggested that the committee take immediate steps to provide clarity to the industry. He pointed out that while Congress is advancing much-needed legislation, the SEC has had the authority to establish basic digital asset regulatory mechanisms since 1996.