Robinhood said Monday that the U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Robinhood Crypto (RHC). The brokerage added that the regulator did not take any enforcement action.
Robinhood Says SEC Closes Investigation Into Robinhood Crypto
The company revealed that on February 21, 2025, the SEC’s Enforcement Division notified RHC in a letter that it had concluded its inquiry.
The investigation stemmed from a Wells Notice issued to RHC in May 2024, which suggested that the SEC was considering enforcement action.
“We applaud the staff’s decision to close this investigation with no action,” said Dan Gallagher, Chief Legal, Compliance and Corporate Affairs Officer at Robinhood Markets. He added, “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.”
Robinhood explained that it has consistently argued that most digital assets should not be classified as securities, maintaining that its crypto platform has always complied with federal securities laws.
Robinhod added that, unlike other platforms, RHC deliberately chose not to offer certain products and services that the SEC had previously alleged were securities.
The company called on the SEC to shift away from “regulation by enforcement” and instead focus on clearer, structured regulatory frameworks for digital assets.
Robinhood stated it is eager to work with regulators to establish greater transparency and tailored oversight for the crypto industry.
