According to the latest information, the SEC has officially closed the investigation into Robinhood Crypto and will not impose any sanctions.
Robinhood said it received a letter from the SEC's Division of Enforcement on Friday, saying the SEC has closed its investigation into its crypto division and will not be taking enforcement action, according to a Robinhood blog post.
“We applaud the SEC’s decision to close this investigation without taking any action. Let me be clear – this investigation should never have been opened. Robinhood Crypto has always respected the federal securities laws and will never facilitate transactions in securities. As we have made clear to the SEC, any lawsuit against Robinhood Crypto would have failed. We appreciate the formal closure of this investigation and are pleased to see a return to the rule of law and a commitment to justice at the SEC,” said Robinhood Chief Legal, Compliance and Corporate Affairs Officer Dan Gallagher.
The SEC's dismissal of the Robinhood and Coinbase cases was interpreted as an early sign of the regulatory sea change for the crypto industry that President Donald Trump promised during his election campaign.
*This is not investment advice.
