Paxos Agrees to $48.5 Million Settlement Over AML Deficiencies Linked to Binance Partnership
Main Idea
The content appears to be promotional material for cryptocurrency gambling platforms, highlighting various bonuses and features.
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Description
The New York State Department of Financial Services (DFS) has reached a $48.5 million settlement with Paxos Trust Company due to deficiencies in its anti-money laundering (AML) program and failures in due diligence related to its partnership with Binance. Superintendent Adrienne A. Harris announced that Paxos will pay a $26.5 million penalty and invest an
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