Robinhood Says It Won’t Face SEC Penalties Over Crypto Business
Key Takeaways
- Robinhood said Monday that the SEC has informed the company it won’t receive an enforcement action over its cryptocurrency business.
- The online trading platform received a Wells Notice last May, indicating penalties were possible following an investigation.
- The SEC also told Coinbase last week it would look to dismiss a lawsuit against the crypto exchange.
Robinhood (HOOD) on Monday said it has been informed by the Securities and Exchange Commission that it won’t receive any penalties over its cryptocurrency business.
The online trading platform said it received a letter from the SEC on Friday, informing Robinhood that the SEC’s investigations is closed with no intention “to move forward with an enforcement action.”
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