Crazy Flux
  • Business
  • World
  • Stocks
  • Investing
  • Business
  • World
  • Stocks
  • Investing

Crazy Flux

Business

Robinhood app says SEC dismissed crypto investigation in sign of easier industry regulation

by admin February 25, 2025
February 25, 2025
Robinhood app says SEC dismissed crypto investigation in sign of easier industry regulation

The Securities and Exchange Commission is dropping its investigation into Robinhood’s crypto arm, the company revealed Monday.

Robinhood said it received a letter from the SEC’s enforcement division on Friday, detailing in a blog post that the agency has closed its investigation into the crypto business with no intention of moving forward with an enforcement action. The news comes three days after Coinbase similarly announced that the SEC has agreed to end its enforcement case against it.

Shares of Robinhood were last higher by about 1%.

In May 2024, Robinhood received a notice warning that it could be charged for potential violation of securities law within its crypto unit after previously being subpoenaed for its cryptocurrency listings, custody and platform operations — despite “years of good faith attempts to work with the SEC for regulatory clarity including our well-known attempt to ‘come in and register,’” Dan Gallagher, the company’s chief legal, compliance and corporate affairs officer, said at the time.

“Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities,” he said in a statement Monday. “We appreciate the formal closing of this investigation, and we are happy to see a return to the rule of law and commitment to fairness at the SEC.”

An SEC spokesperson declined to comment for this story.

The SEC’s dismissal of the Robinhood and Coinbase cases is an early sign of the regulatory sea change for the crypto industry promised by President Donald Trump during his election campaign. Despite the meteoric rise of the price of bitcoin under the previous administration, many crypto businesses saw it as low point due to the SEC’s notorious regulation-by-enforcement approach to crypto — as opposed to the creation of clear rules by which to operate — under the leadership of then Chair Gary Gensler.

Nearly half of Robinhood’s $672 million transaction-based revenue in the fourth quarter came from a 700% rise in revenue tied to crypto trading, as bitcoin rallied toward $100,000 for the first time ever on hopes of more favorable policies under Trump.

The shares have gained 38% so far in 2025.

This post appeared first on NBC NEWS

previous post
Israel to remain in some West Bank refugee camps for ‘coming year’ as military expands campaign
next post
Crypto Market Recap: Bybit Suffers US$1.5 Billion Hack, Saylor’s Strategy Buys More Bitcoin

Related Posts

With Trump all-in on crypto, bitcoin bulls bet...

February 14, 2025

Mattel says Barbies and Hot Wheels could soon...

February 6, 2025

Trump’s massive 46% Vietnam tariffs could hit Nike,...

April 3, 2025

Paramount ends DEI policies, cites Trump executive order

February 28, 2025

Amazon set to pass Walmart in revenue for...

February 7, 2025

Donatella Versace steps down as head of Italian...

March 14, 2025

Fox streaming service to be called Fox One,...

May 13, 2025

U.S. homebuilders raise alarm over tariffs as sentiment...

February 20, 2025

Nvidia’s CEO did a Q&A with analysts. What...

March 25, 2025

Joann to shutter all 800 fabric stores after...

February 26, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Ukraine and Russia begin large-scale prisoner exchange, source says

      May 24, 2025
    • In Gaza, limited food aid meets desperate crowds and looting

      May 24, 2025
    • Legendary Brazilian photographer Sebastião Salgado dead at 81

      May 24, 2025
    • At least 12 injured in hot air balloon crash in Mexico

      May 24, 2025
    • Several people sustain ‘life-threatening’ injuries in knife attack at Hamburg’s Central Station, police say

      May 24, 2025
    • ‘What was that bang?’ Footage captures sound of Titan sub’s implosion

      May 24, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: crazyflux.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 crazyflux.com | All Rights Reserved