Coinbase Pays $50M to NY Gov and Promises to Surveil Users More
The exchange will pay a $50 million fine for letting customers open accounts without sufficient background checks and spend $50 million to increase surveillance.
- Coinbase has agreed to pay a $50 million fine after violating anti-money-laundering laws by allowing customers to open accounts without sufficient background checks. The settlement with the New York State Department of Financial Services also requires Coinbase to invest $50 million to strengthen its surveillance program.
