Paxos

Paxos Settles with NYDFS for M Over Binance and AML Violations

Paxos Settles with NYDFS for $48M Over Binance and AML Violations

Leave a Comment / AA News, Binance, Binance USD (BUSD), Crypto News, Money Laundering, Paxos /

Paxos has agreed to pay $48.5 million to the New York Department of Financial Services (NYDFS). This is to resolve allegations related to inadequate due diligence on its former partner, Binance, and failures in its anti-money laundering program. NYDFS Probe Finds Paxos Lacked Oversight According to an August 7 press release, the terms of the […]

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New York Regulator Secures .5M Settlement From Paxos Over Binance Dealings

New York Regulator Secures $48.5M Settlement From Paxos Over Binance Dealings

Leave a Comment / Binance, Blockchain News, New York, News, Paxos /

Paxos Trust Company has agreed to a $48.5 million settlement with the New York State Department of Financial Services (NYDFS) over allegations it failed to monitor illicit activity linked to its former partner, cryptocurrency exchange Binance. NEW: DFS has secured a $48.5 Million settlement with Paxos Trust Company for anti-money laundering deficiencies and diligence failures.

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