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Coinbase Pays $100 Million To New York Regulator Fine For AML Regulatory Vulnerability

 

Key Points: The New York State Department of Financial Services (NYDFS) has reached an agreement with Coinbase after reviewing the company’s compliance program. The NYDFS fined Coinbase $50 Million after a settlement was reached with the regulator. This was due to the fact that the regulator found glaring flaws in Coinbase’s review of customer IDs, and notifications on transactions.

 

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