Robinhood Markets said the Securities and Exchange Commission closed its investigation into its crypto unit and doesn’t intend to pursue enforcement action, the latest indication of the Trump administration’s support for the cryptocurrency space.

Lawsuits filed against cryptocurrency platforms during President Joe Biden’s administration continue to fall away as the administration of President Donald Trump has projected a much more lenient stan

The U.S. Securities and Exchange Commission has ended its investigation into Robinhood Crypto saying it will not pursue further action with company officials adding it "never should have been opened."