Massachusetts regulator seeks to revoke Robinhood’s broker-dealer license

Massachusetts’ securities regulator is seeking to revoke the broker-dealer license of cryptocurrency-friendly stock trading app Robinhood in the state.

William Galvin, the head of the state’s securities division, said in a new administrative complaint that Robinhood has “continued a pattern of aggressively inducing and enticing trading among its customers — including Massachusetts customers with little or no investment experience,” Bloomberg reports Thursday.