In a massive development for the crypto industry, the US Securities and Exchange Commission (SEC) has dropped its case against the Robinhood exchange without any further action. This comes just days after the US SEC agreed to drop the Coinbase lawsuit.
US SEC Drops Robinhood Case With No Action
In a press release, Robinhood announced that the US SEC’s Enforcement Division has closed its investigation and will not pursue an enforcement action. This marks an end to the Robinhood case, which began last year when the top crypto exchange received a Wells Notice from the regulator.
The Enforcement Division informed the exchange in a letter that it had concluded its investigation and did not intend to move forward with an enforcement action.
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Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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