Cart

0

Cryptocurrencies

“Coinbase settles with New York state financial regulator for $100 million, stock spikes”

Coinbase settled a case with New York’s state financial regulator, the parties announced Wednesday, and will pay a $50 million fine and invest a further $50 million in compliance efforts. Regulators from the New York Department of Financial Services said that the company had longstanding failures in its anti money-laundering program.

Coinbase shares spiked more than 12% on the settlement news. The company is the only publicly traded cryptocurrency exchange in the United States. Coinbase disclosed the regulatory probe in its 202110-K filing with the SEC…”

https://www.cnbc.com/2023/01/04/coinbase-settles-with-new-york-financial-regulator-for-100-million.html

Leave a Reply