NYDFS uncovered over $1.6 billion transactions linked to illicit actors sanctioned by the US authorities on Binance. Paxos must spend an additional $22 million over three years to strengthen its compliance systems. The settlement includes a $26.5 million civil monetary fine.

NYDFS uncovered over $1.6 billion transactions linked to illicit actors sanctioned by the US authorities on Binance. Paxos must spend an additional $22 million over three years to strengthen its compliance systems. The settlement includes a $26.5 million civil monetary fine.

Source: https://cryptoslate.com/new-york-fines-paxos-48-5m-over-binance-linked-compliance-lapses/