The New York Department of Financial Services determined that Cash App was in violation of consumer protection laws and failed to monitor “high-risk” BTC transactions
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Authors
Sam Bourgi
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Jack Dorsey's Block fined $40M for alleged crypto compliance, AML failures
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The New York State Department of Financial Services identified critical lapses in anti-money laundering procedures, consumer protection compliance, and oversight of high-risk Bitcoin transactions within Cash App operations
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