Robinhood Markets’ cryptocurrency division is under scrutiny from Florida regulators over allegations it misrepresented trading costs to customers.
The state’s Attorney General announced an investigation Thursday, questioning Robinhood Crypto’s claims of offering the most affordable platform.
“Being pro-business doesn’t mean tolerating deceptive practices,” said AG James Uthmeier.
The office has issued a subpoena seeking internal Robinhood documents that would support its pricing claims.
This regulatory action comes as Robinhood seeks to expand its crypto offerings amid growing competition from traditional brokerages entering the digital asset space. The probe could impact the company’s marketing strategies and customer acquisition efforts.
