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Jack Dorsey’s Block Fined $40 Million for Compliance Failures
Block, Inc., the fintech giant led by Bitcoin advocate Jack Dorsey, has agreed to pay a $40 million penalty to the New York State Department of Financial Services (DFS) to settle an investigation into compliance failures tied to its Cash App platform.
According to a consent order issued on April 10, the settlement addresses critical lapses in anti-money laundering (AML), cybersecurity, and consumer protection practices that exposed Block to potential criminal exploitation.
Source: https://cryptobriefing.com/cash-app-compliance-settlement/
