Robinhood Under Florida Probe For Alleged Deceptive Crypto Promotion
Florida’s top prosecutor has opened an investigation into trading platform Robinhood, alleging it has been falsely promoting its crypto services as the least expensive on the market.
However, Lucas Moskowitz, Robinhood’s general counsel, told Cointelegraph in a statement that the platform is transparent about its fees, and customers trade crypto at the lowest cost on average.
In a statement on Thursday, Florida Attorney General James Uthmeier accused Robinhood of breaking Florida’s Deceptive and Unfair Practices Act and issued a subpoena asking for various documents from the platform.
“Crypto is a vital component of Florida’s financial future,” and when “consumers buy and sell…
