Coinbase has agreed to pay a $100 million settlement with New York state’s financial regulators.
The crypto industry was hit with a wave of bad news in 2022, with the collapse of crypto exchange giant FTX, hedge fund Three Arrows Capital, along with the failure of several key lenders.
The DFS accused Coinbase on Jan. 4 of making itself vulnerable to serious criminal conduct, such as failing to comply with anti-money laundering standards.
The popular cryptocurrency exchange agreed to pay a $50 million fine to New York’s Department of Financial Services (DFS) for allowing customers to open accounts without conducting sufficient background checks….