Tag: research

• Robinhood says that the SEC has ended the regulator of the Robinhood Crypto regulator.
• The SEC issued a Wells notice to Robinhood Crypto in May 2024.
• The closure of Robinhood Crypto’s investigation by the SEC occurs days after the agency closed a similar investigation against Opensa.

The United States Stock Exchange and Securities Commission (SEC) has abandoned its research on Robinhood digital assets division. Robinhood announced through A blog post On Monday, February 24, the SEC has closed its investigation of compliance actions against the company.

“We applaud the decision of the staff to close this investigation without any action,” said Dan Gallagher, legal director of Robinhood Markets.

The DEC decision of ending his research on Robinhood occurs just a few days after another platform, Opensa, said the regulator was ending his investigation.

Both Robinhood and Opensa received ‘Wells notices from the SEC in 2024. Last week, the Coinbase cryptocurrency exchange platform also announced that the regulator had agreed to dismiss the demand he had filed against the company based in the United States in 2023.

The SEC closes Robinhood research

In Monday’s blog publication, Robinhood said he received a communication from the SEC’s compliance division on Friday, February 21.

The letter detailed the agency’s decision to end the investigation of Robinhood Crypto, without more measures. The Wells notice of the SEC alleged possible violations of the securities laws by the commercial platform. However, Robinhood said he had not violated any values ​​of values ​​and that he did not offer values ​​to users.

“This research should never have opened,” Gallagher added.

“Robinhood Crypto has always respected and will always respect federal values ​​of values ​​and never allowed values ​​transactions. As we explained to the SEC, any case against Robinhood Crypto would have failed. We appreciate the formal closure of this investigation and we are happy to see a return to the rule of law and commitment to equity in the SEC ”.

The SEC has adopted a more cryptographic pro-innovation position since the departure of former President Gary Gensler. The appointment by President Donald Trump of pro-writing people in positions in the agency has helped this change, including the establishment of a working group on cryptocurrencies by the acting president Mark Uyeda.