Main to remember
- Robinhood said on Monday that the SEC had informed the company that it will not receive measures to apply the law on its cryptocurrency activity.
- The online trading platform received a well notice last May, indicating that penalties were possible following an investigation.
- The SEC also told Coinbase last week that she would seek to reject a trial for the exchange of crypto.
Robinhood (HOOD) said on Monday that he had been informed by the Securities and Exchange Commission that he would not receive any penalty on his cryptocurrency activity.
On Friday, the online trading platform said that it had received a letter from the dry, informing Robinhood that the SEC surveys were closed without any intention “to go ahead with an action in application”.
The regulator Envoy Robinhood A Well opinion Last May, informing the company that it had recommended an action in application of its cryptographic activities. Robinhood’s decision follows a similar decision with Coinbase (COIN), which said last week That the SEC seeks to reject a two-year trial against the cryptocurrency trading platform.
A SEC spokesperson refused to comment on Robinhood’s decision.
Robinhood calls for the move of the “return to the rule of law” to the dry
“Robinhood Crypto has always and will always respect federal securities laws and has never authorized transactions in securities,” said Robinhood’s legal director Dan Gallagher. “We appreciate the official closure of this investigation, and we are happy to see a return to the rule of law and a commitment to equity to the dry.”
Executives in the cryptography industry have been optimistic about Us The second term of President Donald Trump being more friendly for the industry than the administration of President Joe Biden. The president of the dry, Gary Gensler, who was criticized by the cryptographic industry as too hard, resigned in January. Trump named Paul Atkins, president of the sec under President George W. Bush, Like the replacement of peoplelerAlthough he is still awaiting confirmation of the Senate.
Robinhood’s shares were down approximately 4% Monday morning. They have almost doubled since Trump’s electoral victory, recently reaching their highest point since the time that followed Robinhood 2021 The initial public offer.