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 stance on cryptocurrency markets.

Robinhood said on Monday the U.S. Securities and Exchange Commission had closed its probe into the firm's crypto trading arm with no action, signaling further regulatory changes in the crypto industry since President Donald Trump took office.

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."