The Securities and Stock Exchange Committee (SEC) closed its investigation at Robinhood Crypto (RHC) without following up the implementation procedures. This step comes amid the committee’s efforts to stay away from its previous approach “Organization by Implementation” within the framework of the new friendly administration.
SEC closes Robinhood Cheerful Investigation
On Monday, Robinhood Declare The United States Enforcement Division has closed its achievement for 9 months in its coding arm without taking any enforcement measures. In May 2024, the committee employees issued a notification of the wells to Robinhood, indicating that they will recommend a SEC file for enforcement on charges of violating the Securities Law of its US encoding arm.
On February 21, the organizational agency sent a letter noting RHC about the official conclusion of the investigation, adding that he does not intend to proceed with an enforcement procedure.
Dan Galgers, chief of Robbet’s chief employee, stated that the investigation “should have been opened”, but he applauded the decision of the Supreme Education Council to close it without procedure.
He stressed that Robinhood Crypto “always respects federal securities laws and never allows securities transactions,” adding that any case against the company’s encryption arm will fail. Gallaghar concluded that “we are pleased to see a return to the rule of law and commitment to fairness in the Supreme Education Council.”
In the X Publication, CEO of Robinhood and co -founder Vladimir Teev The name Development “victory for justice and the rule of law” urged the development of pro -line policies that “launch the full potential for digital assets in America.”
The era of “organization according to the organization”?
In her statement, Robenol argued that her encrypted arm, unlike other platforms, complied with the Supreme Education Council despite the lack of consensus for a long time with the argument that most digital asset transactions are included under federal securities laws.
While Robinhood has long not agreed to the argument that transactions in most digital assets are subject to federal securities laws, RHC, unlike other platforms, has taken difficult options for not providing some products and services called the alleged Supreme Education Council, the alleged Gensler are the leaves Finance in public procedures.
The company urged SEC to continue to move away from “organizing it by enforcement” to “organizing” to provide the market participants with “clarity and organizational framework appropriate for digital assets.”
This development follows the dismissal of the Supreme Education Council for its lawsuit against Coinbase. As Bitcoinist, the Stock Exchange announced the end of its 20 -month legal battle after the committee revealed its plan to withdraw litigation.
In 2023, the Supreme Education Council claimed that the platform was an exchange of unregistered securities, as it sue themselves from work as an unregistered symbol, and the sale of unregistered securities through its program.
However, the agency employees in principle agreed to drop the lawsuit last Friday, with the approval of the SEC Commissioners only pending. In addition, the committee and Binance have stopped their legal battle for two months, pending the procedures of the SEC encryption squad, where it can facilitate the solution of this, and many other encryption cases.
The Organizational Agency has also announced the establishment of the Oyber and Emening Technologies unit (CETU), to protect investors and martial martial behavior related to encryption and artificial intelligence (AL).
Total crypto market capitalization is at $3.04 trillion in the one-week chart. Source: TOTAL on TradingView
Distinctive image from NBC News, Chart from TradingView.com