Block Inc., led by Jack Dorsey, seeks to reach a settlement with New York over money laundering allegations
Block Inc., led by Jack Dorsey, is in negotiations with regulators in New York State to resolve allegations related to its anti-money laundering (AML) and Bitcoin projects. According to a document submitted to the U.S. Securities and Exchange Commission (SEC) on February 24th, Block is engaged in "ongoing negotiations" with the New York State Department of Financial Services (NYDFS), covering multiple aspects such as "Bank Secrecy Act/Anti-Money Laundering and Bitcoin projects". The company stated that it is in dialogue with NYDFS to determine whether a settlement can be reached on acceptable terms. In addition, the document also mentioned that Block is currently facing multiple legal, regulatory, and tax-related matters, including settlements, ongoing negotiations, and investigations.
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