A Consent Order issued in August 2022 by the New York State Department of Financial Services (“NYDFS”) for a $30 million fine on Robinhood Crypto, LLC (“RHC”) shows that cryptocurrency firms are not immune from regulatory and legal obligations. The Consent Order can be read as a partial roadmap for similar firms in establishing best practices for ongoing successful compliance operations, which help firms to remain compliant and secure concurrently. Based on the Consent Order, firms in this space should be prepared to demonstrate to NYDFS how their compliance programs meet the standards outlined in DFS regulations, particularly the Virtual Currency Regulation, the Money Transmitter Regulation, the Cybersecurity Regulation, and the Transactions Monitoring Regulation. Firms should also ensure that they have documented policies and procedures required by the Cybersecurity Regulation. Finally, firms should be prepared to show that they have adequate staffing associated with these regulations. There are three best practices that can help firms achieve these goals and minimize their regulatory risks.