The U.S. Securities and Exchange Commission (SEC) has closed its investigation into the crypto division of online broker Robinhood.

According to a press release, the regulator’s enforcement division notified the company that the review had been concluded with no intention of bringing charges.

In May 2024, the SEC had warned the company about potential violations of securities laws, as the agency examined the listing of cryptocurrencies, fund storage, and platform operations.

“We have always respected federal securities laws and have never allowed transactions involving them,” said Robinhood’s Chief Legal Officer Dan Gallagher.

He added that the company is pleased with the SEC’s decision and views it as a “return to the rule of law.”

Following the news, Robinhood’s shares rose by 3% in pre-market trading. Since the beginning of the year, the company’s stock has increased by 30.83%.

In related news, on February 21, Coinbase CEO Brian Armstrong announced that SEC employees had agreed to drop the lawsuit against the exchange. The agency’s commissioners are expected to approve the decision this week.