Robinhood shares increased by about 2.5% in premarket hours as the US SEC abolished its investigation into Crypto and Equity Trading Platforms.
The US Securities and Exchange Commission does not intend to further enforcement action against Robinhood for its crypto services and activity reporting, wrote Chief Legal and Compliance Officer Dan Galagher in 1 February 24 Blog Post.
Robinhood received a notice of SEC intent last Friday, marking another crypto turnaround in the regulator in 2025. In fact, the SEC has thrown into a towel in several digital asset-related matches, which are between the ongoing changes in the regulator tide.
Cases against Bhamoths such as Coinbase and Openia were allegedly dropped. The Commission also stopped litigation along with Benns and its founder Changpeng Jhao.
Galagher, who was considered for the White House Crypto Caesar role last year, said Crypto’s long -awaited victory confirmed the industry’s argument; This is mostly out of the purview of digital property federal securities laws.
“Instead of regulation by enforcement, it is time for SEC to turn to regulation by regulation,” the CLO of Robinhood said, saying that focus “focus” clearly providing a suitable regulatory structure for market participants and digital assets Needed.”
The new SEC leadership quickly solved the basket of enforcement operations left behind by former chair Gary Gensler. The Commission filed some 120 cryptocurrency complaints during the tenure of the Gensor, the number of cases opened by his predecessor, J Clayton was almost double.
Jensor’s view is that in most digital property securities he was regularly raised against the crypto industry. Galagher, other Crypto Bigwigs and MPs criticized the SEC enforcement approach. American courts chased SEC to be “vague and gentle” in crypto regulation and cases.
After the return of President Donald Trump, the Securities Watchdog has a noticeable axis to a crypto-friendly trend. Acting Chairman Mark Uyda’s new Crypto Task Force resumed stacking in the Etharium Fund, replaced the Commission’s Crypto Investigation Unit, and looked at several landmark cases against digital asset operators.
