January 5, 2023 - Coinbase is the latest crypto behemoth to be called out for compliance lapses, which New York regulators first flagged in a routine 2020 exam. Racking up a purported backlog of more than 100,000 internally generated suspicious activity alerts, the firm failed to implement effective policies and procedures to adequately protect customers. The company has agreed to pay a $50M fine and improve its compliance controls. Read more in this New York Times article by Matthew Goldstein and Emily Flitter here.
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