Block Proposes $764 Million Payment to DOJ in Anti-Money-Laundering Settlement
(3 hours ago) · 1 source · Summarized by CryptoBipto
Block, the parent company of Cash App and Square, has disclosed a proposed $764 million payment to the U.S. Department of Justice as part of a resolution related to anti-money-laundering compliance failures. The proposed settlement addresses allegations that Block did not adequately enforce anti-money-laundering controls across its payment platforms.
WHY IT MATTERS
This story matters because Block operates Cash App, one of the most popular apps that everyday people use to send money and buy Bitcoin.
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SOURCES
- newsbtc.com
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