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Web3 is going just great [English]  -  Robinhood fined $30 million over lackluster cybersecurity and anti-money laundering protections in their crypto offering

 -  4 août - 

"Robinhood" in bright green text, with an illustration of a feather

The New York Department of Financial Services levied a $30 million fine against Robinhood, an app used for stock trading that has also branched into crypto. According to the DFS, Robinhood Crypto demonstrated "significant failures" in its anti-money laundering and cybersecurity obligations.

Robinhood Crypto had certified to the DFS in 2019 that they were in compliance with those regulations, despite the fact that they were not. The DFS imposed a $30 million fine to the company, and also ordered them to hire an outside party to evaluate their regulatory compliance and efforts to remediate the problems with their platform.

par Molly White

Web3 is going just great [English]

A timeline recording only some of the many disasters happening in crypto, decentralized finance, NFTs, and other blockchain-based projects.

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