Robinhood’s crypto subsidiary has agreed to pay $3.9 million to settle allegations that it locked investors’ assets onto its platform and made misleading statements about its trading and order-handling operations.
California authorities allege that from 2018 to 2022, Robinhood Crypto ran afoul of the state’s commodities law by selling crypto investments in the form of commodities contracts but without actually delivering the commodity—the digital assets—to the investor.
As…
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