SEC closes investigation into Robinhood with no action

(Reuters) — Robinhood said Monday the U.S. Securities and Exchange Commission had closed its probe into the company’s crypto trading arm with no action, signaling further regulatory changes in the crypto industry since President Donald Trump took office.

Robinhood had received a so-called Wells notice last May, which is issued when the SEC is planning to bring enforcement action against a company, over crypto tokens traded on its platform.

However, the SEC has moved to ease its crypto-related regulations under Mr. Trump’s leadership. It has established a task force to focus on clarifying the regulatory framework around crypto assets and rescinded key accounting guidance.

These overhauls come ahead of the arrival of Paul Atkins, Trump’s pick for the SEC chair, whom crypto industry executives see as a friendly pick.

The SEC dropped a lawsuit against crypto company Coinbase last week, ending a contentious, years-long legal battle that was once considered existential for the trading platform.