In what is the New York Department of Financial Services’ (NYDFS) first enforcement action against a NYDFS-licensed “virtual currency business,” on August 1, 2022, the agency announced $30 million settlement with cryptocurrency investing platform Robinhood Crypto, LLC (“RHC”). The settlement addressed charges stemming from what the NYDFS cited as various deficiencies during 2019-20 of RHC’s … Continue Reading
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