Coinbase reached a settlement with the New York State Department of Financial services amounting $100 million
Coinbase yesterday, January 4th 2023, reached a settlement with the New York State Department of Financial services amounting $100 million. The amount involves:– $50 million penalty– $50 million for investment in its compliance function 👉 Coinbase’s Compliance Deficiencies: 🚩 Not compliant with Bank Secrecy Act and AML obligations, reporting requirements and record keeping 🚩 Despite the identification of weaknesses […]
