Robinhood’s crypto division was fined $30 million; & more!

Sign up for my Daily Fintech or Daily Digital Banking Newsletters here. Check out my latest podcast episode below: Welcome to your daily FinTech news! This podcast episode is sponsored by Burgopak. Burgopak delivers award-winning innovative packaging solutions for some of the world's leading companies in Fintech. Discover how tangible physical touchpoints are crucial in digital banking with the Burgopak 'Welcome to the club' book; Request your free copy, contact [email protected] NEWS HIGHLIGHT Robinhood’s crypto division was fined $30 million for “significant failures” in areas of anti-money laundering and cybersecurity regulations. NYDFS alleged that Robinhood Crypto’s anti-money laundering and cybersecurity program was inadequately staffed and did not have sufficient resources to address risks. This is the first crypto-sector enforcement by the New York State Department of Financial Services. Link here. FINTECH NEWS #latam Great news for Colombia! Colombia became the third country in LATAM to implement regulations for the widespread adoption of Open Finance. Mexico and Brazil were the first countries to implement Open Finance in Latin America. Since then, there have been more than 20 Open Finance companies in the region, distributed across Brazil, Mexico, Colombia, and Chile. Leading the charts in terms of funds raised is Mexican FinTech belvo with 56 million dollars raised. Link here. Argentina’s economic restrictions have reached the sports industry, with the first signing of a local football player with cryptocurrencies hitting national headlines. The transfer of midfielder Giuliano Galoppo from Banfield’s Athletic Club to Sao Paulo Futebol Clube was made in USD Coin (USDC), exceeding $6 million and up to $8 million depending on the volatile exchange rate of the Argentine peso, according to local sources. The transfer was made possible through a collaboration with the Mexican crypto exchange Bitso. Link here.