Genesis will give up its crypto license and pay an $8 million fine to settle with New York regulators
New York Financial Services Department plans to announce a settlement with Genesis Global Trading, a subsidiary of the major cryptocurrency enterprise group DCG, later tonight. After an investigation found significant deficiencies in Genesis' anti-money laundering and cybersecurity programs, the trading company agreed to surrender its BitLicense, cease operations in New York, and pay an $8 million fine.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
[Initial listing] Bitget to list Kiichain (KII)
New data display features added to the futures elite trader homepage
CFD profit share feature upgraded for safer earnings
New stock categories added to the market selection pop-up in the elite trade section
Crypto prices
More
