SEC is dropping an investigation of slavery
In other sign That the Trump administration will be more friendly to the cryptocurrency industry, the Commission for Securities and Exchange is eliminated by an investigation into the slavery. The agency informs the company that it will not move on with any implementation action, Robinhood S
Last year, slavery A well notified of SEC, indicating that the agency’s staff will recommend action to implement against it. The company was facing potential fees for violating the Securities Act through its cryptocurrencies and sales. According to the Biden administration, there was some speed to view and regulate cryptocurrency as securities; Trump’s goals seem to signal the opposite.
“Robinhood Crypto always has and will always respect federal securities laws and never allows transactions in securities”, Dan Galagher, Chief Legal, Compliance Officer and Corporate Questions on RobinHood, S “As we explained to SEC, any case against Robinhood Crypto would fail. We appreciate the official closure of this investigation and we are happy to see a return to the rule of law and the commitment to justice in SEC.”
Robinhood added that it looks forward to working with SEC to develop a clearer and more “adapted” regulatory frame for digital assets. The company in 2022, but he faced regulatory problems. New York employees have handed over the cryptocurrency of Robinhood business and in 2024 the company With California over cryptocurrency withdrawal. Meanwhile, only last month the slavery agreed to pay $ 45 million to Related to keeping records, trade reporting and other suspected rules violations.
Last week Coinbase stated that SEC is S In a court case During the Biden administration, the agency accused that the company was managing an unregistered securities exchange.
This article originally appeared on Engadget at https://www.engadget.com/big-tech/the-sec-is-snopping-an-investigation-into-robinhood-160629179.html?src=ss
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