Coinbase to pay $100 mln to settle New York state investigation

U.S.-based cryptocurrency exchange Coinbase Global Inc has reached a $100 million settlement with New York's Department of Financial Services (DFS), the exchange and the regulator said in statements on Wednesday.

A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustrationhas reached a $100 million settlement with New York's Department of Financial Services , the exchange and the regulator said in statements on Wednesday.

DFS found Coinbase treated its onboarding requirements for customers as a "simple check-the-box" and had not done sufficient background checks, DFS said in a statement.

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