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Robinhood said this week that it got a letter from the SEC informing the company that the commission concluded its investigation and had no plans to follow up with enforcement action. The company’s announcement came days after another crypto firm, Coinbase, said the SEC was set to dismiss its lawsuit against the company.
“We applaud the staff’s decision to close this investigation with no action,” Robinhood Chief Legal Officer Dan Gallagher said in the release. “Let me be crystal clear. This investigation never should have been opened. Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities. As we explained to the SEC, any case against Robinhood Crypto would have failed.”
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