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Robinhood announced that the SEC has concluded its investigation into its cryptocurrency trading operation without pursuing any enforcement action. This follows a Wells Notice issued by the SEC in May 2024, which indicated a potential enforcement action. Robinhood maintained its stance against the SEC's view on digital assets as securities and appreciated the closure of the investigation.
What’s the Scoop?
- Investigation Closed: Robinhood announced that the U.S. SEC concluded its probe into its crypto trading without enforcement actions.
- Robinhood's Stance: The company emphasized its disagreement with the SEC on categorizing most digital assets as securities.
- Operational Decisions: Robinhood made strategic decisions to not offer certain products that were flagged by the SEC as securities.
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