September 6, 2024 at 04:55 AM GST updated: September 6, 2024 at 02:30 AM 2 mins read News Robinhood Crypto settles for $3.9M over failed crypto withdrawals and lack of transparency from 2018-2022. Settlement forces Robinhood Crypto to permit transfers to personal wallets and realign its customer communication. California applies consumer protection laws to crypto,…
California Attorney General Rob Bonta has announced a $3.9 million settlement with Robinhood Crypto for restricting cryptocurrency withdrawals and not fully disclosing trading practices. The settlement marks the first public action by California’s Department of Justice against a cryptocurrency firm. As part of the settlement, Robinhood must allow customers to withdraw cryptocurrencies to their own…
Robinhood’s crypto division has agreed to pay a $3.9 million fine, settling a California investigation into its past practices, according to a Sept. 5 statement. California Attorney General Rob Bonta said the settlement was secured after Robinhood Crypto prevented users from withdrawing their digital assets from 2018 to 2022. The company also failed to disclose…
Robinhood settles with California’s Department of Justice with $3.9M for accusations between 2018 and 2022. Rob Bonta, Californian Attorney General accused Robinhood of breaching state commodities law. Robinhood Crypto LLC, a subsidiary of Robinhood Markets, has reached a $3.9M settlement with California’s Justice Department. The settlement follows allegations that the platform prevented customers from crypto…
A California Superior Court has upheld the Digital Financial Assets Law, which includes a $1,000 daily withdrawal limit for cryptocurrency ATMs. The law also requires crypto ATM operators to obtain licenses and comply with fee limits and new disclosures. California Court Upholds Bitcoin ATM Withdrawal Limit The California Department of Financial Protection and Innovation (DFPI)…