BREAKING: Cryptocurrency exchange Coinbase has reached a $100M settlement with New York regulators.
New York regulators announced on Jan. 4 that cryptocurrency exchange Coinbase will pay a $50 million fine and invest a further $50 million in its compliance program, following a settlement with the New York State Department of Financial Services.customers to open accounts without conducting sufficient background checks, potentially violating Anti-Money Laundering laws.
Coinbase faced a backlog of over 100,000 alerts about potentially suspicious customer transactions that were not being examined, and was found to have carried out only basic “Know Your Customer” checks before allowing people to open accounts.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coinbase Will Pay $50M Fine to New York Regulator to Settle Background Check Charges.coinbase will pay a $50 million fine to NYDFS to settle charges that it let users open accounts without sufficient background checks. By parikshitm899
Read more »
Apple’s battery replacement prices are going up by $20 to $50iPhone, iPad, and Mac service is getting more expensive.
Read more »
Build muscle for less with $50 off the Bowflex SelectTech 552 adjustable dumbbellsBest Buy has slashed the price of the Bowflex SelectTech 552 adjustable dumbbells by $50 in the January sales.
Read more »
Dallas County to spend nearly $50 million on local nonprofitsDozens of nonprofits across Dallas County feel better prepared to serve the community for the holidays and in the years to come because of millions in extra...
Read more »
Enhance your workouts with $50 off the Samsung Galaxy Buds LiveThe Samsung Galaxy Buds Live are reduced by 33% at Best Buy thanks to the January sales.
Read more »
Ether, altcoins higher as solana soars 14%, Coinbase gains pre-market after Tuesday's dropCrypto prices were higher today, while Coinbase gained in pre-market trading to recoup some of Tuesday's losses. The Fed's latest meeting minutes from December will be released at 2 p.m. EST.
Read more »