Robinhood Crypto fined US$30m in New York for AML and cybersecurity control breaches

Cryptocurrency exchange Robinhood Crypto, LLC (RHC), a subsidiary of Robinhood Markets, Inc (RHM), the group that also offers commission-free trading on stocks and options to retail investors, has been ordered to pay US$30 million after the New York Department of Financial Services (DFS) found defects in its anti-money laundering and cybersecurity defences.