SEC drops investigation against Robinhood
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Robinhood announced that the US Securities and Exchange Commission (SEC) has formally ended its investigation.
This investigation into the company’s crypto division has concluded with no enforcement action taken.
The decision follows a similar move by the SEC just a few days earlier when it dropped its case against Coinbase.
Robinhood’s chief legal officer, Dan Gallagher, criticized the initial probe, saying the company has always complied with federal securities laws and has never facilitated securities transactions.
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He hailed the decision as a return to fairness and proper regulatory oversight.
Coinbase CEO Brian Armstrong also confirmed that the SEC is on track to dismiss its 2023 action against the exchange in its entirety, with no fines or changes to operations. Recent regulatory reversals suggest a more favorable environment for crypto companies under President Donald Trump.
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