Robinhood’s Crypto Unit Fined $30 Million By New York Financial Regulator
[ad_1] The New York Department of Financial Services, or NYDFS, has fined Robinhood's cryptocurrency arm $30 million for suspected anti-money laundering violations, cybersecurity, and consumer protection regulations. NYDFS Superintendent Adrienne Harris announced on Tuesday that Robinhood Crypto would pay a $30 million penalty to the state "for major violations in the areas of bank secrecy act/anti-money laundering responsibilities" and cybersecurity issues that allegedly breached New York regulations. Robinhood's crypto subsidiary,