Browsing:Digital assets

1 year ago 1 min read

Robinhood Forced to Pay $10M Settlement to State Securities Regulators for Investor Failures

Robinhood, the popular multifaceted trading platform, has agreed to pay a $10.2 million fine to the California Department of Financial Protection and Innovation (DFPI) for operational and technical failures that negatively impacted investors. The fine comes after a two-year investigation by the North American Securities Administrators Association (NASAA) into Robinhood’s system outages and service unavailability that cost users several trading opportunities. Regulators accused Robinhood of negligent dissemination of inaccurate information to customers and failing to establish an adequate customer identification program. The company also failed to supervise technology pivotal to providing core customer broker-dealer services and to report customer grievances

1 year ago 1 min read

Chinese cities promote Digital Yuan with $26.6M giveaway

The Chinese government has also launched a series of initiatives to encourage the use of e-CNY. The Bank of China and the Industrial and Commercial Bank of China have both launched services that allow customers to convert their money into digital yuan. The People’s Bank of China has also announced plans to create a digital yuan wallet app and is currently working on developing a digital currency payment system. Furthermore, the country is planning to launch a ‘Digital Yuan Day’ on April 19th to celebrate the currency’s launch. The widespread adoption of e-CNY is expected to increase the use of