Robinhood has agreed to pay a $3.9 million fine to the California Department of Justice for restricting cryptocurrency withdrawals between 2018 and 2022. During this time, users were unable to transfer their crypto holdings, leaving them with the option to sell their assets back to Robinhood. The company also faced accusations of misleading customers about trading prices, which contributed to the penalty.

As part of the settlement, Robinhood is now required to allow crypto withdrawals and improve transparency by providing clearer information about asset custody and potential delays caused by network issues. Despite this challenge, the company remains dedicated to crypto trading and has announced its plans to acquire the crypto exchange Bitstamp by 2025.

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