The Robinhood logo is seen displayed on a smartphone screen against a computer screen with stock market graphics on October 10, 2024.
Dominika Zarzycka | Nurphoto | Getty images
The Securities and Exchange Commission abandons its investigation into the crypto arm of Robinhood, revealed the company on Monday.
Robin said that he had received a letter from the DIA application division on Friday, detailing in a blog article according to which the agency closed its investigation into the cryptography sector without any intention to move forward with a action in application. The news comes three days after Coinbase announced in the same way that the SEC agreed to end his application file against him.
Robinhood’s shares initially increased on the news, but closed down 3.2% in the middle of a broader withdrawal of the actions of the summits of the day.
Robinhood’s actions initially increased on news, but withdrew with the larger market.
In May 2024, Robinhood received an opinion warning that he could be charged with potential violation of values law for more regulatory clarity, including our well -known attempt to “come and register,” said Dan Gallagher, the manager legal, compliance and business of the company of the time.
“Robinhood Crypto has always and will always respect federal securities laws and has never authorized transactions in securities,” he said in a statement on Monday. “We appreciate the official closure of this investigation, and we are happy to see a return to the rule of law and a commitment to equity to the dry.”
A SEC spokesperson refused to comment on this story.
The dismissal of the dry of the cases of Robinhood and Coinbase is an early sign of the regulatory maritime change for the cryptographic industry promised by President Donald Trump during his electoral campaign. Despite the frateral rise in the price of bitcoin Under the previous administration, many cryptographic companies considered it a weak point due to the regulatory approach to the Crypto of the SEC – as opposed to the creation of clear rules by which operate – under The management of the president of the time, Gary Gensler.
Almost half of revenues based on Robinhood transactions of $ 672 million in the fourth quarter came from a 700% increase in revenues related to the crypto trade, while Bitcoin gathered to $ 100,000 for the First time in the hope of more favorable policies under Trump.
Robinhood’s shares have won 34% so far in 2025.
