Robinhood is just the latest company in the mix, announcing on Monday that the Securities and Exchange Commission has closed its investigation into the company and will not pursue an enforcement action.
Robinhood was notified in May that it could face enforcement action because of a failure to register certain crypto assets listed on its trading platform as securities.
“Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities,” Dan Gallagher, chief legal, compliance and corporate affairs officer at Robinhood Markets, said in a statement. “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.”
Ha! Wait, are they being serious? Even I can’t tell.