United States of America: Issued settlement in Investigation into Robinhood regarding consumer and investor protection in relation to cryptocurrencies

On 4 September 2024, the California Attorney General announced a settlement in its Investigation into Robinhood regarding consumer and investor protection in relation to cryptocurrencies. The investigation was made into alleged violations of the California Commodities Law in relation failures to permit customer withdrawal of cryptocurrencies and failure to fully disclose aspects of trading and order handling arrangements. Under the terms of the settlement, Robinhood must pay a USD 3.9 million penalty and adhere to a series of commitments to its customers.