Photo: Mark Zuckerberg's Facebook post
Nasdaq-listed US fintech company Robinhood’s crypto division has been slapped with a US$30 million fine by the New York Department of Financial Services (NYDFS) for “significant failures” in the areas of anti-money laundering and cybersecurity regulations. The penalty is NYDFS’s first crypto-sector enforcement.
“As its business grew, Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance—a failure that resulted in significant violations of the Department’s anti-money laundering and cybersecurity regulations,” said NYDFS Superintendent Adrienne Harris.
Photo: Robinhood
Near Protocol’s native token NEAR surged over 20% over the past 7-day period following a disclosure that it had discovered and fixed a security breach.
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On August 4, the proof-of-stake public blockchain developer wrote in a blog post that it had received a bug report indicating that sensitive information had been shared with a third party. The issue was fixed promptly the same day. As at August 5, NEAR tokens are trading at US$5.16 apiece.
Chart: NEAR 7-day price performance, CoinGecko
