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New York Regulator Discloses First Penalty Against Cryptocurrency Industry

Robinhood cofounders Baiju Bhatt and Vlad Tenev walk in New York City on Thursday, July 29, 2021. Robinhood Crypto was fined $30 million by New York’s DFS on Monday, Aug. 22, 2022, for AML and cybersecurity failures. (Getty Images)


Legs & Regs


Enforcement Actions

France's Financial Prosecutor's Office and the Chicago, IL-based corporation signed a settlement agreement on June 16. 2022, concerning allegations of tax evasion related to transfer pricing arrangements between the French subsidiary and other entities located abroad.
The Gambling Commission ordered the Sliema, Malta-based remote gaming operator to pay a £1.32 million financial penalty for social responsibility and anti-money laundering failures, including ineffective management of money laundering and terrorist financing risks.