Robinhood’s crypto unit fined $30 million by New York’s top financial regulator

08/02 13:19

According to WSJ, the New York State Department of Financial Services imposed a $30 million fine on the cryptocurrency trading unit of online brokerage Robinhood Markets Inc. for alleged violations of anti-money-laundering and cybersecurity regulations, in the department’s first crypto enforcement action. The New York State financial regulator said Tuesday that Robinhood Crypto LLC failed to maintain and certify compliant anti-money-laundering and cybersecurity programs. Robinhood, which said in its latest quarterly filing that it had about 15.9 million monthly active users as of the end of March, first publicly disclosed the investigation and settlement with the NYDFS a year ago in paperwork filed with the Securities and Exchange Commission. The company initially expected a monetary penalty of at least $10 million and later increased it to $30 million.
bullishbullishbullish4bearishbearishbearish1LikeShare
DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

Related Articles

  • Image

    How To Play The Bitcoin 4-Year Cycle For The Most Gains In The Bull Market

  • Image

    VItalik Buterin Defends Long-Term Vision Amid Token Price Concerns

  • Image

    Bitcoin Bottom May Be 2 Months Away, On-Chain Data Suggests

All Comments0LatestHot

avatar
LatestHot

Related Articles

  • Image

    How To Play The Bitcoin 4-Year Cycle For The Most Gains In The Bull Market

  • Image

    VItalik Buterin Defends Long-Term Vision Amid Token Price Concerns

  • Image

    Bitcoin Bottom May Be 2 Months Away, On-Chain Data Suggests