Robinhood’s Crypto Division Fined $30M by New York Financial Regulator

The New York State Department of Financial Services (NYDFS) fined the crypto trading unit of Robinhood (HOOD) $30 million for alleged violations of anti-money laundering and cybersecurity regulations. The Wall Street Journal first reported on the fine on Tuesday. “As its business grew, Robinhood Crypto failed ...Read More

Robinhood’s Crypto Unit Hires New Chief Compliance Officer From Grayscale

The cryptocurrency unit of popular trading platform Robinhood Markets Inc. has hired a new chief compliance officer, a move that comes as the company faces regulatory scrutiny. Benjamin Melnicki joined Robinhood Crypto LLC this week, a Robinhood spokesman said. Mr. Melnicki was most recently chief compliance officer ...Read More

SEC chief readies ‘woke’ rules and plan to curtail market’s ‘gamification’

Securities and Exchange Commission Chairman Gary Gensler unveiled an ambitious list of proposed reforms Friday including guidelines for “woke” corporate disclosures and rules to curtail the “gamification” of Wall Street as he embarks on his tenure as Wall Street’s top cop. The SEC’s “Agency Rule List” released today includes ...Read More