Online trading company Robinhood announced today that the U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Robinhood Crypto (RHC).

On February 21, 2025, the SEC’s Enforcement Division advised RHC in a letter that it had concluded its investigation and did not intend to move forward with an enforcement action. This follows the SEC’s May 2024 Wells Notice to RHC.

“We applaud the staff’s decision to close this investigation with no action,” said Dan Gallagher, Chief Legal, Compliance and Corporate Affairs Officer, Robinhood Markets, Inc. “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. We appreciate the formal closing of this investigation, and we are happy to see a return to the rule of law and commitment to fairness at the SEC.”