Coinbase will pay a $50m fine and invest a further $50m into strengthening internal compliance programs after regulators found that Coinbase had failed to thoroughly vet new customers.
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Coinbase settles with New York state financial regulator for $100m
“This agreement includes a $50 million penalty and a separate commitment from Coinbase to invest $50 million in our compliance program over two years,” Coinbase Chief Legal Officer Paul Grewal said in a statement.
