Block Agrees to $40M Settlement with NYDFS for Inadequate Compliance with Bank Secrecy Act

Block’s anti-money laundering controls were deemed inadequate, thus violating the Department’s money transmitter and virtual currency regulations. source: https://www.nftgators.com/block-agrees-to-40m-settlement-with-nydfs-for-inadequate-compliance-with-bank-secrecy-act/