Block Inc., the payments company led by Jack Dorsey, is working to resolve regulatory issues with New York authorities concerning its Anti-Money Laundering (AML) efforts and Bitcoin-related programs.
The company disclosed in a recent filing that it is in active talks with the New York State Department of Financial Services (NYDFS) to settle the matter, which involves compliance with the Bank Secrecy Act (BSA) and other regulatory concerns.
These discussions are still ongoing, but Block has not revealed the terms being considered.
This follows a broader series of regulatory challenges for Block, which has faced scrutiny from state regulators over the past few years.
In particular, the company’s AML practices were found lacking, which led to a settlement earlier this year with several state regulators, excluding New York.
Block agreed to a significant penalty of $80 million, which will be paid by early 2025, and promised to improve its compliance measures under the supervision of an independent consultant.
Brad Garlinghouse has flatly denied that Ripple ever attempted to acquire Circle, the company behind the USDC stablecoin, shutting down weeks of speculation about a potential $5 billion deal.
Trump Media & Technology Group (TMTG) is making a bold move into the crypto investment space by backing a new spot Bitcoin ETF.
A sharp rally could be brewing for the S&P 500, with analysts suggesting the index may push toward 7,400 in the coming months—a move that would mark a significant leap from its current level near 5,950.
Tokenized short-term funds are quietly reshaping how institutions manage liquidity, offering a digital alternative to traditional money market products.