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Robinhood Faces Florida Probe Over ’Lowest Cost’ Crypto Trading Claims
Robinhood Faces Florida Probe Over ’Lowest Cost’ Crypto Trading Claims
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BTCCSquare news:
Florida's Attorney General has launched an investigation into Robinhood Crypto for allegedly misleading consumers with claims of offering cryptocurrency trading "at the lowest cost on average." The state prosecutor issued a subpoena to examine internal documents, arguing evidence suggests the platform may not be the bargain it claims.
At issue is Robinhood's payment-for-order-flow model, which routes trades to third parties rather than charging direct commissions. Authorities contend this structure makes transactions more expensive than competitors—a potential violation of Florida's Deceptive and Unfair Practices Act. "When consumers buy crypto, they deserve transparency," said Attorney General James Uthmeier.
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