The U.S. Securities and Exchange Commission (SEC) has ended its investigation into Robinhood’s cryptocurrency business without recommending enforcement action.

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."

Robinhood said the U.S. securities regulator had closed its probe into the retail trading firm's crypto arm with no action, as it seeks to revamp policing of digital assets since President Donald Trump took office.