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TechFlow reported, according to Fortune, the New York Department of Financial Services plans to announce a settlement with Genesis later today.
Following an investigation that revealed significant deficiencies in Genesis' anti-money laundering and cybersecurity programs, the trading firm has agreed to surrender its BitLicense, cease operations in New York, and pay an $8 million penalty.
According to Fortune, the New York Department of Financial Services plans to announce a settlement with Genesis later today. After an investigation revealed significant deficiencies in Genesis' anti-money laundering and cybersecurity programs, the trading firm has agreed to surrender its BitLicense, cease operations in New York, and pay an $8 million penalty.
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