Robinhood’s crypto arm fined $30 mln by New York State’s financial regulator

FILE PHOTO The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comRegisterAug 2 (Reuters) – New York State’s financial regulator has fined the crypto arm of Robinhood Markets Inc (HOOD.O) $30 million for alleged violations of anti-money-laundering, cybersecurity and consumer protection rules.The New York State Department of Financial Services (NYDFS) said on Tuesday that Robinhood Crypto did not devote sufficient resources to address compliance and cybersecurity risks.The online trading app has been …
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