Robinhood's crypto unit was fined $30 million in New York

Robinhood's crypto unit was fined $30 million in New York

It has become known that the New York Financial Services Department fined a $30 million Robinhood Kryptonite Unit to make such a decision. This was the first time that a complaint had been filed in the state of New York against money-laundering and cyber security.

The NYDFS decision to impose a fine puts a stop to the investigation into the Robinhood Crypto crypto crypto unit, which started in March last year, as evidenced by the documents that Robinhood handed over to the US Securities and Exchange Commission; initially, the company expected the fine to be $15 million, but the amount set by NYDFS was twice as high.

The NYDFS audit found that the Cybersecurity System of Robinhood Crypto had significant deficiencies that did not fully address the company ' s operational risks; moreover, the Robinhood crypto unit had significant deficiencies in the current anti-money laundering programme, and also violated the Consumer Protection Act without indicating on the official website the telephone number for receiving clients ' complaints.

," commented on the question by the head of NYDFS Adriann Haris.