The SEC will not sue Robinhood over crypto

Group 1 - The SEC has closed its investigation into Robinhood's crypto unit and will not pursue action, following a similar decision regarding Coinbase [1] - Coinbase opted to fight the SEC's lawsuit, while Robinhood chose to avoid trading the most scrutinized crypto assets, although it launched a staking service in Europe [3] - The SEC, under former chair Gary Gensler, had been investigating crypto exchanges over their treatment of crypto assets like staking, which Gensler viewed as a security [2] Group 2 - The crypto industry, including exchanges like Coinbase and Robinhood, aims to leverage the current regulatory environment to establish clearer regulations under a more crypto-friendly administration [4] - There are concerns within the industry about whether it will adopt sensible regulations or revert to a less regulated environment [4]