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Robinhood Says It Won’t Face SEC Penalties Over Crypto Business
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Key Points
- Robinhood said on Monday that the SEC has notified the company that it will not take enforcement action against its cryptocurrency business.
- In May last year, online trading platforms received a Wells notice, indicating that penalties may be imposed after the investigation.
- The SEC also told Coinbase last week that it would dismiss the lawsuit against crypto exchanges.
robbery(hood) said on Monday that the SEC has informed it that it will not receive any fines for its cryptocurrency business.
The online trading platform said it received a letter from the SEC on Friday informing Robinhood that the SEC investigation was closed and had no intention of “taking enforcement action.”
Regulator To Ronid one Be careful In May last year, the company was notified that it had recommended enforcement actions on cryptocurrency operations. Robinhood Deakie follows similar moves to Coinbase (coin), which one Said last week The SEC is seeking a two-year historical lawsuit against cryptocurrency trading platforms.
A SEC spokesman declined to comment on Robini’s decision.
Robinhood Call moves “Back to the Rule of Law” in SEC
“Robin Sex Encryption has always and will always respect the federal securities laws and never allow securities trading,” said Dan Gallagher, Chief Legal Officer of Robinid. “We thank this investigation for the official end, We are pleased to see the return of the rule of law and the commitment to fairness and justice.”
Executive Crypto Industry Always Optimistic about Us President Donald Trump’s second term is more friendly than President Joe Biden’s administration. SEC Chairman Gary Gensler is criticized by the crypto industry for being too harsh. Resign In January. Trump nomination Paul Atkins, SEC Chairman of George W. Bush, As a replacement for Gensleralthough he is still awaiting confirmation from the Senate.
Robinhood shares fell 4% Monday morning. Their value has almost doubled since the Trump election Initial public offering in 2021.
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