The Florida Attorney General has begun an investigation into the online broker Robinhood following complaints about the advertisement of low fees for cryptocurrency trading. Attorney General James Utmeier issued a subpoena to Robinhood demanding documents for the inquiry. He accused the company of violating state law regarding unfair practices and misleading consumers.
Robinhood claims that it fully discloses fee information and that customers do indeed trade cryptocurrency at the lowest prices. Regulators will need to determine whether there is a conflict of interest in the advertisement and whether there are inflated actual costs for customers.$FIS $FUN $TRX