SEC Ends Investigation Into Robinhood

Just past week, the US Securities and Exchange Commission (SEC) made the determination to extremity its enforcement enactment against Coinbase. The determination was a cardinal portion of its continued shift, arsenic it ends its combative stance opposing the cryptocurrency industry. That has continued this week, arsenic the SEC has reportedly ended its probe into Robinhood.

According to a property release from the platform, the agency’s enforcement part has ceased its probe and “will not prosecute enforcement action.” Indeed, the update follows the issuance of a Wells Notice from the bureau successful May 2024 that Robinhood main ineligible serviceman Dan Gallagher says “never should person been opened.”

JUST IN: SEC ends probe into Robinhood.

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SEC Closes Robinhood Investigation As Crypto Policy Overhaul Continues

Just 1 period ago, the SEC announced the motorboat of its caller crypto task force. Indeed, it was acceptable to pb the complaint for wide regularisation successful the country. That would look to thrust manufacture maturation successful the United States and overhaul however it policed the plus class. Moreover, it was a wide deviation from the Biden administration. Its Gary Gensler-led bureau sought a conflicting ‘regulation done enforcement’ attack that helped nary one.

That pursuit has led to continued changes successful the scenery of ineligible conflicts wrong the industry. Moreover, the latest alteration took spot successful the last week of February. Specifically, the SEC has announced it is ending its probe into Robinhood. Additionally, it volition not question immoderate enforcement enactment arsenic a effect of its probe.

Source: Decrypt

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“We applaud the staff’s determination to adjacent this probe with nary action,” Robinhood’s Dan Gallagher said. “Robinhood Crypto ever has and volition ever respect national securities laws and ne'er allowed transactions successful securities. As we explained to the SEC, immoderate lawsuit against Robinhood Crypto would person failed.”

That isn’t the extremity of the 2 sides’ engagement, however, successful a much collaborative way. The level said they “look guardant to moving with the SEC nether this caller medication to found a wide way forward” for cryptocurrency regularisation successful the United States.