Robinhood (HOOD) announced that the SEC has concluded its investigation into whether it failed to register certain digital assets as securities, signaling a potential shift in regulatory approach. The company's Chief Legal Officer, Dan Gallagher, welcomed the decision. This news follows similar announcements from Coinbase (COIN) and OpenSea, whose CEO, Devin Finzer, stated on Friday that the SEC was ending a probe into its NFT marketplace. OpenSea received an SEC Wells notice in August 2024, while Robinhood received one in May 2024. These developments coincide with a pause in the SEC lawsuit against Binance and optimism within the crypto industry following promises made by Donald Trump during his presidential campaign. SEC Commissioner Hester Peirce expressed hopes for "greater clarity" for the crypto industry on Friday. Despite these positive regulatory signals, Robinhood's stock dipped roughly 7% on Monday morning, mirroring a broader decline in crypto-related stocks.
SEC Ends Investigation into Robinhood's Crypto Offerings Amidst Industry Optimism
Edited by: Yuliya Shumai
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