(Bloomberg) – Robinhood Markets Inc. He said the US insurance and exchanging commission closed an investigation into the firm's cryptocurrency operations and is not following any implementation action.

Robinhood unfolded last year That she received what is known as a well announcement, indicating that the SEC had initially decided to recommend a bailiff action.

“Let me be clear – this investigation should never have been opened. Robinhood Crypto always has and will always respect the federal laws of securities and never allows securities transactions,” said Dan Gallagher, the chief legal chief, compliance and corporate issues of Robinhood in a statement on Monday. “As we explained to the SEC, any case against Crypto Robinhood would have failed.”

KESH refused to comment.

Robinhood is the latest company to announce that the SEC has withdrawn from an action or lawsuit implementing cryptocurrencies as the agency moves to new leadership and takes a more friendly approach to the market. On Friday, Coinbase Global Inc. said the SEC agreed Discard her lawsuit Accusing the largest booming platform of cryptocurrency in the US to operate an illegal exchange. At the beginning of this month, the regulator puts a similar case against binance pending.

Robinhood has quickly expanded its services for consumer financing beyond its trademark platform, investing in retail, including in the crypt. It has a credit card and pension products, and has entered international markets, noting recently an extension in Asia.

Read more: Income from Robinhood Double, driven by the increase in cryptocurrencies

The firm “has long disagreed with the argument” that most digital assets transactions are subject to federal securities law, he said in the statement, and Robinhood “made difficult choices not to provide certain products and services” that former leader of SEC Gary Gensler, who served under President Joe Biden, claimed to be.

“Instead of implementing adjustment, it is time for the SEC to return to regulations with regulations-providing market participants with clarity and a suitable regulatory framework for digital assets,” said Menlo Park, California-based company.

Last month, Robinhood agreed pay $ 45 million To resolve separate accusations with the SEC.