Robinhood achieves a big victory because the SEC releases the examination of the crypto units

The Robinhood platform recently announced on Monday that the SEC will initiate its investigation into its crypto arm. The company announced in a detailed blog post that it received a letter from the SEC enforcement department on Friday and confirmed that the case is closed without further measures.

In particular, this step follows the announcement of Coinbase a few days earlier that the SEC ends its asset procedure against it. According to the messages, Robinhood's shares rose over 3%in the Premarket trade.

“We welcome the personnel's decision to close this investigation without measures”.

Robinhood crypto emphasizes that it always follows the federal securities laws and has never allowed transactions in securities. The company said that due to its explanation to the SEC, a potential case against Robinhood Crypto would have been unsuccessful. “We appreciate the formal closure of this investigation and are pleased that we see a return to the rule of law and commitment to fairness on the SEC,” he added.

The decision of the SEC to fall against Robinhood and Coinbase signals a potential shift in crypto control, which President Donald Trump promised during his campaign. While Bitcoin rose to value under the previous administration, many crypto companies had to struggle instead of the clear and fair rules for the industry due to the hard, enforcement-based approach of the SEC under the former chairman Gary Gensler.