Cryptocurrency Q&A
Is Robinhood app legal?
Is Robinhood app legal?
WhisperEcho
Mon May 13 2024
|
5 answers
1017
Could you please clarify whether the Robinhood app is considered legal or not? I've heard different opinions and I'm trying to understand the legal status of this platform in the cryptocurrency and finance industry. Is it a legitimate and regulated service that follows all the necessary guidelines and laws? Or are there any concerns or legal issues surrounding its operations? I'd appreciate it if you could provide a clear and concise answer to this question, as I'm considering using Robinhood for my investment needs but want to ensure it's a safe and legal option.
5 answers
Riccardo
Wed May 15 2024
Robinhood strictly adheres to all applicable Federal and State regulations pertaining to financial institutions.
Was this helpful?
350
96
QuasarStorm
Wed May 15 2024
Among these regulations are the Bank Secrecy Act and Anti-Money Laundering (BSA/AML) measures.
Was this helpful?
175
96
KatanaBlade
Wed May 15 2024
Additionally, Robinhood complies with the PATRIOT Act, which is enforced by the Financial Crimes Enforcement Network (FinCEN).
Was this helpful?
194
31
CryptoWizardry
Tue May 14 2024
Other federal and state regulators also oversee Robinhood's compliance with these regulations.
Was this helpful?
182
52
SakuraBlooming
Tue May 14 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services including spot trading, futures trading, and wallet management.
Was this helpful?
116
74
