Owner of the popular stock and cryptocurrency trading app Robinhood Markets Inc. announced that it received a notice from the US Securities and Exchange Commission (SEC) on May 4.

The announcement impacted the cryptocurrency market, causing the price of Bitcoin to decline from intraday highs above $65,000. Despite this, analysts remain bullish on BTC and other major altcoins. Attracting the attention of investors also caused the emergence of a new crypto project called KangaMoon (KANG).

The SEC recently issued a notice to Robinhood, which led to a decline in the cryptocurrency market. The SEC charged Robinhood Crypto with securities violations. In response to this, the company announced its readiness to cooperate with the regulator. Robinhood's chief commercial officer, Dan Gallagher, stressed that they do not consider the assets on their platform to be securities.

The market reaction to the news was evident as the price of Bitcoin fell from above $65,000 to settle around $63,300. Robinhood's share price also fell more than 5% on the stock market. Since the notice regarding Robinhood Crypto, the SEC has taken action against several other crypto companies, including exchanges such as Coinbase, Binance and Kraken.

Despite concerns raised by the SEC's approach to regulating cryptocurrencies, the cryptocurrency investment community remains optimistic about the future of the industry. Projects like KangaMoon (KANG) continue to attract interest due to their unique features such as money-making games and SocialFi integration.

KangaMoon has had significant pre-sale success, reaching $6 million, with a KANG token price of $0.0196 at stage 5. The token offers holders the opportunity to earn more KANG during the pre-sale period, allowing them to potentially profit before the token is listed on exchanges. Once the pre-sale is completed, KANG tokens will become tradable, which may lead to an increase in demand during a period of bull market activity.