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    Home»Crypto News»SEC Shuts Down Robinhood Investigation With out Pursuing Enforcement Motion – The Each day Hodl
    SEC Shuts Down Robinhood Investigation With out Pursuing Enforcement Motion – The Each day Hodl
    Crypto News

    SEC Shuts Down Robinhood Investigation With out Pursuing Enforcement Motion – The Each day Hodl

    By Crypto EditorFebruary 25, 2025No Comments2 Mins Read
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    The highest securities regulator in the USA is dropping its investigations into main retail buying and selling app Robinhood.

    In accordance with a brand new announcement from Robinhood, the U.S. Securities and Alternate Fee (SEC) is dropping its investigation into the buying and selling app lower than a 12 months after sending the agency a Wells Discover.

    The SEC despatched Robinhood a Wells Discover, a proper warning of investigation, in Could of final 12 months regardless of Robinhood CEO Vlad Tenev’s claims that the agency met with the regulator over 15 instances “in good religion”.

    “We tried to create what’s known as the particular function broker-dealer for the aim of transacting crypto property. We truly got here in good religion to fulfill with the SEC. I believe we met with them 16 instances and, sadly, that was not reciprocated.”

    Now, with the fees dropped, Robinhood requires the SEC to manage with rules versus enforcement actions.

    Says Dan Gallagher, Robinhood’s chief authorized, compliance and company affairs officer, on the SEC’s determination to drop expenses,

    “We applaud the workers’s determination to shut this investigation with no motion.

    Let me be crystal clear—this investigation by no means ought to have been opened. Robinhood Crypto all the time has and can all the time respect federal securities legal guidelines and by no means allowed transactions in securities. As we defined to the SEC, any case towards Robinhood Crypto would have failed. We recognize the formal closing of this investigation, and we’re completely happy to see a return to the rule of legislation and dedication to equity on the SEC.”

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    SEC Shuts Down Robinhood Investigation With out Pursuing Enforcement Motion – The Each day Hodl

    Disclaimer: Opinions expressed at The Each day Hodl aren’t funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any losses you might incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in online marketing.

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