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Florida AG Accuses Robinhood of Falsely Promoting Itself as ‘Least Expensive’ Way to Buy Cryptocurrency, Launches Probe
LEON COUNTY, FLORIDA, JUL 10 – Florida Attorney General alleges Robinhood misled users about lowest crypto trading costs due to hidden fees from payment for order flow, subpoenaing documents and user data from 2024.
- On July 10, 2025, Florida’s Attorney General, James Uthmeier, initiated a probe into Robinhood Crypto over allegations that the company misrepresented the costs associated with trading cryptocurrencies on its platform.
- The investigation follows claims that Robinhood misled users by advertising itself as the most cost-effective platform while generating revenue through a practice where third parties pay to execute customer trades, which may lead to higher costs for users.
- Uthmeier’s office issued a subpoena seeking internal documents by July 31, 2025, including marketing materials, employee names, and trading data to assess Robinhood’s fee transparency.
- Uthmeier announced that his office is investigating Robinhood Crypto, LLC for claiming to offer the lowest-cost option for buying cryptocurrency, a statement Robinhood disputes by asserting it generally provides the most affordable trading rates to its users.
- Robinhood’s response and the investigation may influence regulatory scrutiny on PFOF and highlight challenges in trading cost transparency for crypto platforms.
44 Articles
44 Articles
Hb 515 in Florida: the Little-Known Law that Impacts Cryptocurrencies and Other Electronic Transfers
Florida enacted HB 515, an initiative that could have a profound impact on the way electronic transactions and cryptocurrencies are handled.Signed by Governor Ron DeSantis, this legislation came into effect on July 1, 2025 and redefines essential aspects of digital commerce under the Uniform Commercial Code (UCC).This is how it changes the finances of state residents.How HB 515 impacts Florida's HB 515 comprehensively modifies Florida's statutes…
Robinhood Crypto Probed Over Allegedly Misleading Investors
Florida’s Attorney General James Uthmeier has launched an investigation into Robinhood’s crypto trading promotions, alleging the company misled customers about the true costs of trading digital assets on its platform. According to a report from Bloomberg, the probe centers on Robinhood’s marketing claims that it offers the “lowest cost on average” and gives users “the most crypto for your money,” which state officials say may be deceptive. This …
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