The U.S. Securities and Exchange Commission (SEC) has closed its investigation into Robinhood Crypto, informing the company on February 21 that no enforcement action would be recommended. This decision comes less than a year after Robinhood received a Wells notice regarding potential securities violations.

Robinhood Markets’ compliance officer, Dan Gallagher, criticized the investigation, stating that the company has always adhered to federal securities laws. The SEC had been examining Robinhood’s crypto operations since issuing the Wells notice in May 2024, which suggested possible enforcement action.

In January 2025, Robinhood reached a $45 million settlement with the SEC over multiple securities law violations. The company admitted to some findings in the SEC’s order but has since urged regulators to move away from a “regulation by enforcement” approach.

This development reflects a broader shift in the SEC’s stance on crypto regulation, with growing calls for clearer guidelines. Some experts speculate that pending enforcement actions against other major crypto firms could also be reconsidered. Read more.

HK Asia Holdings Limited has expanded its Bitcoin holdings to nearly 9 BTC, following board approval for additional purchases. The Hong Kong-based investment firm acquired approximately 7.88 BTC on February 20, spending around $761,705. This comes after its initial 1 BTC purchase a week earlier, which significantly boosted its stock price.

The company financed its Bitcoin acquisition using internal resources, bringing its total investment in the asset to roughly $861,500. The firm emphasized its growing interest in digital assets amid increasing cryptocurrency adoption in the business world.

Following the Bitcoin purchases, HK Asia’s stock price surged by nearly 93% after its first acquisition and continued to rise by 5.7% on February 24. If the trend holds, the stock could surpass its all-time high from June 2019, reflecting strong investor confidence in the firm’s crypto strategy.

HK Asia voluntarily disclosed its Bitcoin acquisitions, even though they remained below the legal threshold requiring disclosure. This move aligns with a broader trend of publicly traded firms incorporating cryptocurrency into their asset holdings.

Singapore-based crypto mining hardware firm Bgin Blockchain has filed for a U.S. IPO, aiming to raise $50 million. In its SEC filing, the company outlined plans to offer nearly 60 million Class A shares and over 15 million Class B shares, with an application to list on Nasdaq under the ticker “BGIN.”

Bgin specializes in designing mining rigs focused on alternative cryptocurrencies like Kaspa, Alephium, and Radiant. The firm reported selling nearly 68,000 rigs in 2023 and 47,000 more in the first half of 2024. Additionally, it manages over 4,000 rigs for clients in Nebraska and Iowa while operating more than 33,000 rigs across the U.S.

The company’s financials indicate that most of its revenue initially came from cryptocurrency mining, but after launching its own mining machines in April 2023, hardware sales contributed over 85% of its earnings. The IPO funds will be used primarily to boost research and development efforts.

Bgin’s move aligns with a trend of crypto firms seeking public listings in the U.S., following similar plans from companies like eToro, BitGo, and Gemini. The IPO reflects growing interest in crypto mining and blockchain technology despite regulatory uncertainties.