Additionally, Robinhood promised users conditions for storing digital assets themselves without the need to turn to third-party services. As an advertising feature promoting Robinhood’s services in the European Union, the company offers customers cashback in the amount of up to 1% of the value of deposited tokens.
Last December, the platform launched its cryptocurrency trading service Robinhood Crypto in the EU. At that time, the service allowed the purchase and sale of cryptocurrencies, but prohibited their withdrawal to third-party crypto platforms or their own crypto wallet. The head of Robinhood’s crypto division, Johann Kerbrat, said that with the launch of the transfer service, the ban on moving digital assets no longer limits users of the payment service.
In September, it became known that Robinhood entered into a $3.9 million settlement with California prosecutors who accused the platform of violating consumer protection laws from 2018 to 2022. California Attorney General Rob Bonta said the settlement not only includes a monetary fine, but also obliges Robinhood to provide transparency in the future.
Source: Bits
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