On October 10, 2024, the Robinhood logo was seen on the smartphone screen, which showed a stock market chart on the smartphone screen.
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The SEC is abandoning an investigation into Robinhood’s cryptocurrency unit, the company revealed on Monday.
Robin Said it received a letter from the SEC Law Enforcement Department on Friday and detailed Blog Posts The agency has closed an investigation into cryptocurrency operations and has no intention of conducting it through law enforcement actions. The news has been around for three days After Coinbase similarly announced The SEC has agreed to terminate its law enforcement case against the case.
Stocks on stocks rose more than 3%.
In May 2024, Robinhood received a warning that the notice could be charged for securities laws within its crypto units after being summoned for its cryptocurrency listings, custody and platform operations – despite “years of Come sincerely trying to work with the SEC for clarity, including our well-known attempt to “come in and register”, “Dan Gallagher, Chief Legal, Compliance and Corporate Affairs Officer, Said at that time.
“Robinhood Crypto has always and will always respect the federal securities laws and never allow securities trading,” he said in a statement Monday. “We appreciate the formal end of this investigation and we are pleased to see the rule of law and SEC fairness Commitment.”
The SEC did not respond to a request for comment.
The SEC dismissed the Robinhood and Coinbase cases, an early sign of the cryptocurrency industry adjustment that President Donald Trump promised during the election. Despite the rapid rise in prices Bitcoin Under the leadership of the previous administration, many cryptocurrency companies viewed it as a low point because of the infamous regulations of the SEC, rather than creating clear rules under the then-Gary Gensler Chairman.
In the fourth quarter, Robbidinians came from nearly half of their $672 million transaction-based revenues Revenue related to crypto transactions grew 700%Bitcoin rally For the first time ever $100,000 Hope to formulate more favorable policies under Trump’s leadership.
So far, the stock has risen 38% in 2025.
