Robinhood reaches US$3.9 million settlement with California over crypto withdrawals
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A CRYPTOCURRENCY platform run by Robinhood Markets will pay US$3.9 million for failing to let customers withdraw cryptocurrency from their accounts from 2018 to 2022, California Attorney General Rob Bonta said on Wednesday.
The settlement with Robinhood Crypto also resolves claims that the platform failed to fully disclose aspects of its trading and order handling arrangements.
Bonta said the civil settlement marks his office’s first public action against a cryptocurrency company. REUTERS
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