Cryptocurrency News

New York financial regulator fines Robinhood’s crypto division $30M

08/02/2022

Less than a minute

2022.08.02 21:38

New York financial regulator fines Robinhood’s crypto division $30M

The New York Department of Financial Services, or NYDFS, has announced a $30 million penalty on Robinhood’s cryptocurrency arm for alleged violations related to anti-money laundering, cybersecurity and consumer protection laws.

In a Tuesday announcement, NYDFS superintendent Adrienne Harris said Robinhood (NASDAQ:HOOD) Crypto will pay a $30 million penalty to the state “for significant failures in the areas of bank secrecy act/anti-money laundering obligations” as well as cybersecurity failures that allegedly violated New York regulations. According to Harris, Robinhood’s crypto unit will also be required to hire an independent consultant to evaluate the firm’s compliance and remediation efforts.

08/02/2022

Less than a minute

Leave a Reply Cancel reply

You must be logged in to post a comment.

Bitcoin (BTC) $ 103,625.76 1.98%

Ethereum (ETH) $ 3,336.60 0.87%

XRP (XRP) $ 3.15 5.65%

Tether (USDT) $ 0.99984 0.02%

Solana (SOL) $ 229.24 7.99%

BNB (BNB) $ 704.85 1.57%

Dogecoin (DOGE) $ 0.400207 3.17%

USDC (USDC) $ 1.00 0.01%

Cardano (ADA) $ 1.08 4.46%

Lido Staked Ether (STETH) $ 3,339.59 0.75%

TRON (TRX) $ 0.244472 0.40%

Avalanche (AVAX) $ 40.45 0.54%

Chainlink (LINK) $ 24.10 0.18%

Stellar (XLM) $ 0.465983 5.76%

hedera-hashgraph

Hedera (HBAR) $ 0.371409 3.95%

Sui (SUI) $ 4.69 2.73%

Wrapped stETH (WSTETH) $ 3,999.35 0.20%

Shiba Inu (SHIB) $ 0.000023 2.18%

wrapped-bitcoin

Wrapped Bitcoin (WBTC) $ 103,187.65 1.92%

the-open-network

Toncoin (TON) $ 5.42 1.72%

Polkadot (DOT) $ 7.19 2.41%

WETH (WETH) $ 3,348.81 0.66%

Litecoin (LTC) $ 127.89 8.26%

Bitcoin Cash (BCH) $ 472.10 2.10%

LEO Token (LEO) $ 9.72 0.32%

Uniswap (UNI) $ 14.28 2.76%

Bitget Token (BGB) $ 7.05 0.56%

Pepe (PEPE) $ 0.000019 3.12%

Hyperliquid (HYPE) $ 21.51 8.13%

Wrapped eETH (WEETH) $ 3,544.72 0.60%

NEAR Protocol (NEAR) $ 5.52 2.81%

USDS (USDS) $ 0.999482 0.01%

Ethena USDe (USDE) $ 1.00 0.02%

Aptos (APT) $ 9.38 1.99%

internet-computer

Internet Computer (ICP) $ 10.80 4.46%

Aave (AAVE) $ 319.91 0.37%

VeChain (VET) $ 0.053069 6.86%

polygon-ecosystem-token

POL (ex-MATIC) (POL) $ 0.486651 0.01%

Ethereum Classic (ETC) $ 27.05 3.18%

Monero (XMR) $ 217.40 2.63%

Render (RENDER) $ 7.69 0.64%

crypto-com-chain

Cronos (CRO) $ 0.140923 4.44%

Algorand (ALGO) $ 0.450515 8.43%

Bittensor (TAO) $ 459.96 1.73%

Kaspa (KAS) $ 0.145736 0.94%

Mantle (MNT) $ 1.08 5.08%

Dai (DAI) $ 1.00 0.01%

MANTRA (OM) $ 3.71 3.06%

Artificial Superintelligence Alliance (FET) $ 1.35 0.09%

Filecoin (FIL) $ 5.50 6.63%