Robinhood Markets Says SEC Closes Investigation of Crypto Unit -- WSJ

Dow Jones

02-24

By Denny Jacob

Robinhood Markets said the Securities and Exchange Commission closed its investigation into its crypto unit and doesn't intend to pursue enforcement action, the latest indication of the Trump administration's support for the cryptocurrency space.

The online brokerage said the SEC's enforcement division advised the crypto unit, called Robinhood Crypto, of its decision on Friday. The SEC in May said it was preparing to sue the crypto unit, which received a so-called Wells Notice around that time, when the regulator was still led by former Chair Gary Gensler.

"Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities," Robinhood chief legal officer Dan Gallagher said Monday.

The SEC's decision will buoy Robinhood as it banks on a major expansion of its cryptocurrency trading business under a more supportive Trump administration as it continues to diversify beyond traditional brokerage services.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

February 24, 2025 09:52 ET (14:52 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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The SEC in May said it was preparing to sue the crypto unit, which received a so-called Wells Notice around that time, when the regulator was still led by former Chair Gary Gensler. \n</p>\n<p>\n     \"Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities,\" Robinhood chief legal officer Dan Gallagher said Monday. \n</p>\n<p>\n     The SEC's decision will buoy Robinhood as it banks on a major expansion of its cryptocurrency trading business under a more supportive Trump administration as it continues to diversify beyond traditional brokerage services. \n</p>\n<p>\n     Write to Denny Jacob at denny.jacob@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 24, 2025 09:52 ET (14:52 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4127","symbol_name":"投資銀行業與經紀業","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2513727449","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2513727449","pubTimestamp":1740408720,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Robinhood Markets said the Securities and Exchange Commission closed its investigation into its crypto unit and doesn't intend to pursue enforcement action, the latest indication of the Trump administration's support for the cryptocurrency space.The online brokerage said the SEC's enforcement division advised the crypto unit, called Robinhood Crypto, of its decision on Friday. 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The SEC in May said it was preparing to sue the crypto unit, which received a so-called Wells Notice around that time, when the regulator was still led by former Chair Gary Gensler. \n\n\n     \"Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities,\" Robinhood chief legal officer Dan Gallagher said Monday. \n\n\n     The SEC's decision will buoy Robinhood as it banks on a major expansion of its cryptocurrency trading business under a more supportive Trump administration as it continues to diversify beyond traditional brokerage services. \n\n\n     Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 24, 2025 09:52 ET (14:52 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}