The U.S. Securities and Exchange Commission (SEC) has closed a confidential inquiry into real-world asset (RWA) platform Ondo Finance without bringing any charges, lifting a cloud that had hung over the project.

In a blog post on Monday morning, Ondo said it received formal notice that the multi-year investigation launched under the Biden administration during a period of “heightened scrutiny” of crypto firms has been “closed without any charges.”

ONDO jumped about 7% following the announcement and was trading at $0.48 at press time, per data from The Defiant’s price tracking page.

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