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Re: Your Freedom of Information Law ("FOIL") Request FOIL-2023-095358-021587 - Robinhood BitLicense Records Appeal - NY-DFS
by Gunnar Larson 01 Apr '24

01 Apr '24

Dear Ms. Mazza: This is a friendly reminder xNY.io - Bank.org will not rest until we conclude the BitLicense RICO concern. Can we please receive an update on our dignified Robinhood records request appeal? Have a great day. Thank you, Gunnar -- Gunnar Larson xNY.io - Bank.org 917-580-8053 On Tue, Feb 27, 2024, 6:43 AM Gunnar Larson <g(a)xny.io> wrote: > Ms. Mazza: > > The five day deadline has passed. > > This is very important particular to xNY.io - Bank.org's concern of a > crypto RICO derrived out of the BitLicense. > > Ms. Mazza, when can xNY.io - Bank.org expect a response on the Robinhood > records? NY-DFS' records response to Coinbase was extremely helpful. > > Have a great day. > > Thank you, > > Gunnar > -- > Gunnar Larson > > xNY.io | Bank.org > > MSc - Digital Currency > MBA - Entrepreneurship and Innovation (ip) > > G(a)xNY.io > +1-917-580-8053 > New York, New York 10001 > > > On Wed, Feb 21, 2024, 2:21 PM Gunnar Larson <g(a)xny.io> wrote: > >> In accordance with Public Officers Law § 89(4), xNY.io - Bank.org elects >> to appeal this determination to withhold the Robinhood BitLicense Records. >> >> Turn this matter as we will, any side whatsoever appears to require >> obstruction of justice. >> >> We further demand NY-DFS send xNY.io - Bank.org an update on the >> aforementioned appeal within five (5) business days. >> >> Reserving all rights, xNY.io - Bank.org is seeking relevant relief in >> California on Robinhood. >> >> Warm regards, >> >> Gunnar >> >> ---- >> >> SENT VIA EMAIL >> Email: G(a)xny.io >> February 21, 2024 >> Mr. Gunnar Larson >> xNY.io – Bank.org >> 406 West 25th Street >> New York, NY 10001 >> Re: Freedom of Information Law (“FOIL”) Tracking No. 2023-095358 >> Dear Mr. Larson, >> I write in response to the FOIL request that you submitted to the New >> York State Department of Financial Services >> (“Department”), which has been assigned the above-referenced tracking >> number and reads as follows: >> Dear Madam or Sir: On August 2, 2022 the Superintendent of Financial >> Services Adrienne A. Harris >> announced that Robinhood Crypto, LLC (“RHC”) would pay a $30 million >> penalty to New York State >> for significant failures in the areas of bank secrecy act/anti-money >> laundering (“BSA/AML”) >> obligations and cybersecurity that resulted in violations of the >> Department’s Virtual Currency >> Regulation (23 NYCRR Part 200), Money Transmitter Regulation (3 NYCRR >> Part 417), Transaction >> Monitoring Regulation (23 NYCRR Part 504), and Cybersecurity Regulation >> (23 NYCRR Part 500). >> xNY.io - Bank.org would like to >> 1. receive any and all records related to NY-DFS' investigation of >> Robinhood Crypto. Including (but >> not limited to) records concerning the bespoke Supervisory Agreement >> Robinhood Crypto has with >> the Department of Financial Services mentioned here: >> https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202208021 >> . >> 2. In addition, xNY.io - Bank.org seeks any and all records concerning >> New York's approach to >> Robinhood Crypto and Goldman Sachs compliance programs mandated by the >> United States >> Department of Justice, Criminal Division, Fraud Section and Money >> Laundering and Asset >> Recovery Section mentioned here: >> https://drive.google.com/file/d/1Yx88RMoeLyyfbNK0RtPl4r- >> m8N21_1Sp/view?usp=drivesdk. >> 3. Finally, xNY.io - Bank.org seeks records concerning New York's >> regulatory approval of >> Robinhood Crypto engaging a fine of $30M to implement heightened controls >> and additional >> procedures and policies relating to electronic surveillance and >> investigation, due diligence on >> transactions or clients and the use of third-party intermediaries across >> business units; and enhancing >> anti-corruption training for all management and relevant employees. >> To the extent the request is reasonably described, the Department >> construes the request as seeking the records, >> correspondence, and work product exchanged between Robinhood and the >> Department in accordance with the Department’s >> August 1, 2022 Consent Order (“responsive records”). >> The records that you seek relate to an ongoing Department investigation. >> Accordingly, your request is denied >> pursuant to Public Officers Law § 87(2)(e)(i) (the “law enforcement >> exemption”), which excepts from disclosure records >> that are compiled for law enforcement purposes and that, if disclosed, >> would interfere with law enforcement investigations. >> The purpose behind the law enforcement exemption is to protect an >> agency’s investigative process from being compromised >> by revealing the scope and nature of an agency's investigation before an >> investigation is complete. See Matter of Pittari v. >> Pirro, 258 A.D.2d 202 (2d Dep’t 1999). It also bears noting that the law >> enforcement exemption applies to both civil and >> criminal investigatory files. See Madeiros v. Dep’t of Educ., 30 N.Y.3d >> 67 (2017). In this instance, releasing the requested >> records would interfere with the Department’s investigative process. >> Thus, the Department is not disclosing the records that >> you request pursuant to Public Officers Law § 87(2)(e)(i). >> Moreover, in addition to withholding the responsive records pursuant to >> Public Officers Law § 87(2)(e)(i), the >> Department also is withholding the responsive records pursuant to Public >> Officers Law § 87(2)(a), which specifically >> exempts from disclosure records exempted by a state or federal statute. >> The applicable statutory provision is N.Y. Banking >> Law (“Banking Law”) § 36(10), which states, in pertinent part, that >> reports of examinations and investigations and >> correspondence and memoranda concerning or arising out of such >> examinations and investigations are confidential and shall >> not be made public. The statute fosters open communication between the >> Department and its regulated institutions, a >> necessity for effective regulation of financial institutions, by ensuring >> that records transmitted to the Department in >> connection with its supervision of a financial institution are protected >> from disclosure. >> The responsive records that were transmitted between Robinhood and the >> Department in connection with the >> Department’s supervision of Robinhood as a licensed money transmitter >> pursuant to New York Banking Law, constitute >> correspondence and reports concerning and arising out of an investigation >> and are, therefore, required to be kept confidential >> and exempt from disclosure under Banking Law § 36(10). The expectation >> that records transmitted to the Department will >> remain confidential is essential to encouraging candor and open >> communications between the Department, its regulated >> entities, and the entities undergoing regulatory review that submit such >> records. Release of such sensitive records, albeit >> responsive records, may have a chilling effect on the willingness of >> regulated entities to share information and cooperate >> with supervisors to resolve issues, and thus confidentiality is critical >> to the Department’s ability to perform its regulatory >> mandate and purpose. Accordingly, the exemption set forth in Public >> Officers Law § 87(2)(a) via Banking Law § 36(10) >> covers the responsive records. >> In accordance with Public Officers Law § 89(4), you may appeal this >> determination to withhold the records within >> 30 days by sending an email to FOIL.Appeals(a)dfs.ny.gov. >> Very truly yours, >> Stephanie Mazza >> Associate Attorney >> ---------- Forwarded message --------- >> From: <Stephanie.Mazza(a)dfs.ny.gov> >> Date: Wed, Feb 21, 2024, 1:26 PM >> Subject: Your Freedom of Information Law ("FOIL") Request >> FOIL-2023-095358-021587 >> To: <G(a)xny.io> >> >> >> Dear Mr. Larson: >> >> Attached please find the Department's determination regarding the >> aforementioned FOIL request. Because your request has been answered, your >> request is now closed. >> >> Tracking Number:FOIL-2023-095358-021587 >> >

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Weed Investors' Money Shift Cost Co. Millions, Suit Says
by Gunnar Larson 01 Apr '24

01 Apr '24

Weed Investors' Money Shift Cost Co. Millions, Suit Says <https://www.law360.com/cannabis/articles/1818708?nl_pk=c844ee6a-f80e-4e60-b…> By Jonathan Capriel A Michigan entrepreneur has hit his ex-partner with a $5 million lawsuit, accusing him of wrecking plans to buy a 10-acre marijuana grow facility near Ann Arbor by poaching the lead investors so he could fund his own Colorado cultivation. Complaint attached | Read full article » <https://www.law360.com/cannabis/articles/1818708?nl_pk=c844ee6a-f80e-4e60-b…> | Save to favorites » <https://www.law360.com/cannabis/articles/1818708?nl_pk=c844ee6a-f80e-4e60-b…>

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BitTorrent Owner Says SEC Is Overreaching Its Authority
by Gunnar Larson 01 Apr '24

01 Apr '24

BitTorrent Owner Says SEC Is Overreaching Its Authority <https://www.law360.com/newyork/articles/1819288?nl_pk=ac5a3855-e47c-4403-be…> By Lauren Berg The owner of file sharing platform BitTorrent asked a Manhattan federal judge to toss the U.S. Securities and Exchange Commission's lawsuit alleging the fraudulent and unregistered sale of a pair of crypto tokens, saying the agency is trying to extend U.S. securities laws to foreign entities. Memorandum attached | Read full article » <https://www.law360.com/newyork/articles/1819288?nl_pk=ac5a3855-e47c-4403-be…> | Save to favorites » <https://www.law360.com/newyork/articles/1819288?nl_pk=ac5a3855-e47c-4403-be…>

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Giuliani Says He Could Be 'Homeless' If Florida Condo Is Sold
by Gunnar Larson 01 Apr '24

01 Apr '24

Giuliani Says He Could Be 'Homeless' If Florida Condo Is Sold <https://www.law360.com/newyork/articles/1819199?nl_pk=ac5a3855-e47c-4403-be…> By Clara Geoghegan Rudy Giuliani said the official committee of unsecured creditors in his Chapter 11 case has overstepped its powers by asking a New York bankruptcy judge to force the sale of his Florida condo, a move that the former New York City mayor said could add him to "the ranks of the homeless." 1 document attached | Read full article » <https://www.law360.com/newyork/articles/1819199?nl_pk=ac5a3855-e47c-4403-be…> | Save to favorites » <https://www.law360.com/newyork/articles/1819199?nl_pk=ac5a3855-e47c-4403-be…>

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Nikola Says Convicted Ex-CEO Plotting Illegal Board Takeover
by Gunnar Larson 01 Apr '24

01 Apr '24

Nikola Says Convicted Ex-CEO Plotting Illegal Board Takeover <https://www.law360.com/technology/articles/1819299?nl_pk=2bd720dd-746c-4744…> By Gina Kim Electric truck manufacturer Nikola Corp. sued its former CEO and convicted felon Trevor Milton in Arizona federal court Friday, accusing him of scheming with unqualified loyalists to regain control of the company by flouting securities laws, infringing Nikola's trademarks and breaching agreements. Complaint attached | Read full article » <https://www.law360.com/technology/articles/1819299?nl_pk=2bd720dd-746c-4744…> | Save to favorites » <https://www.law360.com/technology/articles/1819299?nl_pk=2bd720dd-746c-4744…>

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Exxon Docs In $1.8B Case Should Be Unsealed, Judge Told
by Gunnar Larson 01 Apr '24

01 Apr '24

Exxon Docs In $1.8B Case Should Be Unsealed, Judge Told <https://www.law360.com/governmentcontracts/articles/1818842?nl_pk=4126fe73-…> By Spencer Brewer The government asked a Texas federal judge to wave away protests by Exxon Mobil Corp. to keep its documents sealed in a case over $1.8 billion in contested tax benefits for a joint venture with Qatar, saying Thursday that the energy giant threatens unnecessary disputes at trial. Response attached | Read full article » <https://www.law360.com/governmentcontracts/articles/1818842?nl_pk=4126fe73-…> | Save to favorites » <https://www.law360.com/governmentcontracts/articles/1818842?nl_pk=4126fe73-…>

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BofA Sued After FTC Imposter Steals $2M From Accounts
by Gunnar Larson 01 Apr '24

01 Apr '24

BofA Sued After FTC Imposter Steals $2M From Accounts <https://www.law360.com/cybersecurity-privacy/articles/1819250?nl_pk=3dfd2fd…> By David Minsky A 67-year-old Florida woman has sued Bank of America over alleged negligence and violations of several federal laws, claiming in the case that was removed to federal court this week that the financial services company failed to protect her accounts as she fell victim to a sophisticated social engineering scam by a person posing as a Federal Trade Commission investigator who stole $2 million. Complaint attached | Read full article » <https://www.law360.com/cybersecurity-privacy/articles/1819250?nl_pk=3dfd2fd…> | Save to favorites » <https://www.law360.com/cybersecurity-privacy/articles/1819250?nl_pk=3dfd2fd…>

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DraftKings Rips Former Exec's 'Lies' In Ongoing Fanatics Spat
by Gunnar Larson 01 Apr '24

01 Apr '24

DraftKings Rips Former Exec's 'Lies' In Ongoing Fanatics Spat <https://www.law360.com/cybersecurity-privacy/articles/1819075?nl_pk=3dfd2fd…> By David Steele Former DraftKings executive Michael Hermalyn lied in his opposition last week to its preliminary injunction request, just as he had during his departure to rival Fanatics and throughout a trade secrets and breach of contract suit against him, the company has told a Massachusetts federal court in defending its injunction request. 1 document attached | Read full article » <https://www.law360.com/cybersecurity-privacy/articles/1819075?nl_pk=3dfd2fd…> | Save to favorites » <https://www.law360.com/cybersecurity-privacy/articles/1819075?nl_pk=3dfd2fd…>

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Lowe's Lies 'Destroyed' Vendor's Business, NC Suit Says
by Gunnar Larson 01 Apr '24

01 Apr '24

Lowe's Lies 'Destroyed' Vendor's Business, NC Suit Says <https://www.law360.com/competition/articles/1819189?nl_pk=6416fd97-1dc4-4e0…> By Travis Bland A home accents company alleged that Lowe's sought to "destroy" it with "bogus" complaints about product quality and the business' financial health, costing it tens of millions of dollars while usurping its business model. Complaint attached | Read full article » <https://www.law360.com/competition/articles/1819189?nl_pk=6416fd97-1dc4-4e0…> | Save to favorites » <https://www.law360.com/competition/articles/1819189?nl_pk=6416fd97-1dc4-4e0…>

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PayPal Gets CFPB's Fee Disclosure Rule Cut Down Again
by Gunnar Larson 01 Apr '24

01 Apr '24

PayPal Gets CFPB's Fee Disclosure Rule Cut Down Again <https://www.law360.com/banking/articles/1819383?nl_pk=feb6bbba-7878-4d39-be…> By Lauren Berg A Washington, D.C., federal judge on Friday again sided with payment-processing giant PayPal in striking down attempts by the Consumer Financial Protection Bureau to hold digital wallets to certain disclosure and waiting-period rules that apply to physical prepaid payment cards. Opinion attached | Read full article » <https://www.law360.com/banking/articles/1819383?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1819383?nl_pk=feb6bbba-7878-4d39-be…>

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