The Securities and Exchange Commission (SEC) has closed its investigation into Robinhood Crypto (RHC) without taking any enforcement actions.
Robinhood announced that the SEC's Enforcement Division closed the 9-month investigation into its crypto arm and will not move forward with an enforcement action.
Robinhood's Chief Legal Officer stated that the investigation should have never been opened and commended the SEC's decision.
Robinhood called for the SEC to provide clarity and an appropriate regulatory framework for digital assets by moving away from 'regulation by enforcement' to 'regulation by regulation.'