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SEC closes Rumble investigation in latest regulatory clearance of global free speech platforms

The SEC said: "Based on the information we have as of this date, we do not intend to recommend an enforcement action."

Published: February 21, 2024 9:22am

Updated: February 21, 2024 10:20am

The U.S. Securities and Exchange Commission concluded its investigation into Rumble Inc. and said it will not recommend any actions against the video-sharing website, marking the latest regulatory clearance of a social media platform promoting free speech across the globe.

"We have concluded the investigation as to Rumble Inc. Based on the information we have as of this date, we do not intend to recommend an enforcement action by the Commission against Rumble Inc.," SEC Assistant Regional Director Sarah Mallett told Rumble on Tuesday in a letter obtained by Just the News. 

The SEC still warned that the platform may not be completely in the clear.

"We are providing this notice under the guidelines set out in the final paragraph of Securities Act Release No. 5310, which states in part that the notice 'must in no way be construed as indicating that the party has been exonerated or that no action may ultimately result from the staff's investigation,'" Mallett also wrote. 

The announcement regarding Rumble comes after Truth Social, former President Donald Trump's social media platform, said last week that it cleared its final regulatory challenge with the SEC to be able to merge with Digital World Acquisition Corp. following nearly two years of delays.

The SEC confirmed in Jaunary it was investigating Rumble, per tech outlet Wired following allegations that the platform inflated important user metrics. 

The company denied the allegations and Rumble founder and CEO Chris Pavlovski accused the regulatory agency of acting in response to a "bogus report" from Culper Research, an investment research firm and short seller, in an effort to damage Rumble.

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