US Chamber of Digital Commerce criticizes SEC Robinhood filing move

The U.S. cryptocurrency lobby group Chamber of Digital Commerce has criticized the U.S. Securities and Exchange Commission's (SEC) Robinhood filing move (via WellsNotes), reports Cryptoslate. In a statement, the chamber said: “The SEC's action conflicts with the regulator's duty to protect investors, and this aggressive approach could harm new cryptocurrency companies. We urge immediate legislative action to address the SEC's jurisdictional issues, and Commissioner Gary Gensler should testify before Congress in this regard.” Previously, the SEC reportedly issued a cease-and-desist letter to Robinhood Crypto, a division of Robinhood, regarding its cryptocurrency listing and custody platform operations.