The UK's Financial Conduct Authority (FCA) has fined CB Payments Limited (CBPL), a subsidiary of Coinbase Group, $4.5 million for breaches of anti-money laundering rules.
The FCA originally proposed a penalty of $6.442 million, which was reduced by 30% due to a settlement concession.
The fine stems from CBPL’s continued breaches, despite previous agreements to improve controls over financial crime, following a regulatory review in 2020.
The FCA found that CBPL involved 13,416 high-risk customers who deposited around $24.9 million, later used in transactions totalling $226 million on other Coinbase platforms.
This failure to comply with FCA guidelines significantly increased the risk of financial crime.
The U.S. Securities and Exchange Commission (SEC) has filed emergency enforcement actions against First Liberty Building & Loan, LLC and its founder, Edwin Brant Frost IV, alleging they operated a $140 million Ponzi scheme that spanned more than a decade and defrauded around 300 investors.
A legal clash between Coin Center and the U.S. Treasury Department over sanctions imposed on Tornado Cash has officially come to an end, following a joint decision to dismiss the case.
A sophisticated cyberattack targeting Brazil’s central bank reserve accounts has resulted in the theft of over $140 million (R$800 million), much of which was swiftly funneled through cryptocurrency channels.
A malicious open-source project on GitHub disguised as a Solana trading bot has compromised user wallets, according to a July 2, 2025, report by cybersecurity firm SlowMist.