Regulation1 source
Block Reaches $964 Million DOJ Deal in Principle Over AML Lapses
Headline from The Defiant
Key points
- Block has reached a $964 million deal in principle with the Department of Justice to resolve anti-money laundering lapses.
- Prior regulatory resolution credits will lower the actual payout to approximately $764 million.
- Meanwhile, the company experienced a 50% drop in bitcoin ecosystem gross profit, which was driven mainly by fee reductions on Cash App.
Summarized automatically by Kryptokite from reporting by The Defiant. Read the original sources for full detail.
Coins mentioned
Sources
- The DefiantBlock Reaches $964 Million DOJ Deal in Principle Over AML Lapses · 2 hours agoRead on The Defiant
Story timeline
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