On the day in question, Robinhood posted to say this is what it was doing, and it explicitly stated that it was doing so to protect its customers from volatility. It absolutely said nothing at all about doing it because of regulatory or other requirements.

Robinhood has since deleted that post from its site.

And no matter how you cut the cake, if you put your money into Robinhood then you risk losing it when Robinhood changes the rules.

That’s the message people need to hear.