The publicly traded crypto platform was accused of violating state law with respect to “significant failures in its compliance program.” The deficiencies cited include an “overly simplistic” due diligence program, a backlog of unreviewed alerts and other suspicious activity.
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Coinbase, NYS Come to $100M Agreement Over Alleged Compliance Violations
Coinbase will pay $100 million in fees after reaching a deal with the New York State Department on Financial Services. So reports NPR.
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