Robinhood welcomes the step of SEC, the examination of his crypto business – DL News

The Securities and Exchange Commission officially completed its investigation into the Robinhood when the agency rejects its crypto advantage, the Fintech company announced on Monday.

Dan Gallagher, Chief Legal Officer from Robinhood, applauded The move and a return to the rule of law and the commitment to fairness in the Sec. “

“Let me be crystal clear – this investigation should never have been opened,” he said. “Robinhood crypto has and will always respect the federal securities laws and never allow transactions in securities.”

He said that the FireBand campaign against Crypto under the direction of Gary Gensler, the previous chairman of the SEC, even held the stock trading apps the provision of certain products and services for their users.

The Hood share fell open on the market by 5% on Monday.

The SEC announced Robinhood that it would take measures against the company due to suspected securities violations May 2024 – an assertion that the supervisory authority has launched in a series of crypto stalts.

The SEC did not officially confirm the news.

“We reject comments,” said a SEC spokesman DL news.

Robinhood did not react immediately to inquiries about comments.

Robinhood's crypto services contributed to an increase in net sales from Robinhood of 2.9 billion US dollars in 2024. Crypto helped the brokerage gain of 1.4 billion US dollars.

“We can be a big player,” said Johann Kerbrat, the Crypto boss of the trade app, said DL news In January.

Coinbase and Binance

Since President Donald Trump appointed Mark Uyeda as the incumbent chairman of the Sec in January, several investigations into various crypto companies were put on hold or rejected.

Under the Gensler, the supervisory authority aimed at some of the largest crypto exchanges in the industry, such as: Coin base And Binancefor allegedly operating operators of an unregistered securities exchange.

On February 21, Coinbase announced that the agency “in principle to reject its illegal enforcement procedure”, against the crypto exchange.

In a movement stored With Binance and his former CEO Changpeng Zhao on February 11th, the SEC announced that it would pause for the exchange for 60 days.

Devin Finzer, the CEO and founder of the non-fitting token platform OpenSea, announced On February 22nd, the SEC also completed its investigation into the crypto company. The regulatory authority sold on the platform was claimed non -registered securities In August 2024.

The decision of the SEC to delay, delay and reject several complaints that aim at important crypto companies is an extraordinary development. And one not lost in the former agency.

“Beable yourself, get the popcorn and get ready for the Secberdigung” wrote on Thursday.

“If the crypto masking like a forest fire and the crypto criminal wave spreads like a tsunami over the global capital market, do not ask who the bells also fees for you.”

Liam Kelly is a reporter based in Berlin for DL news. Do you have a tip? E -mail him liiam@dlnews.com.