Fines | ForkLog

ForkLog 5 11.04.2025

Block Fined $40 Million by NYDFS

Block, a company founded by Twitter’s Jack Dorsey, has agreed to pay $40 million to the New York State Department of Financial Services (NYDFS). An investigation revealed “critical gaps” in the company’s anti-money laundering (AML) system, according to an NYDFS press release. The company failed to implement adequate controls to prevent financial crimes and did […]

AI translated

ForkLog 11 04.04.2025

OKX Fined $1.2 Million by Maltese Regulator

Malta’s Financial Intelligence Analysis Unit (FIAU) has fined cryptocurrency exchange OKX €1.1 million (~$1.2 million) for anti-money laundering (AML) violations in 2023. The FIAU stated that while the platform has improved its compliance procedures over the past 18 months, the agency “could not overlook” previous “serious and systemic” shortcomings. In 2023, OKX conducted a business […]

AI translated

ForkLog 29 04.04.2025

US Court Fines CLS Global $428,059 for Wash Trading

A federal court in Boston has fined the UAE-based market maker CLS Global $428,059 and banned it from operating in the United States for three years. The sentence was handed down on criminal charges related to fraudulent manipulation of cryptocurrency trading volumes. On January 21, CLS Global pleaded guilty to wash trading. The charges were […]

AI translated

ForkLog 7 10.03.2025

Robinhood to Pay $29.75 Million to Settle FINRA Claims

Online broker Robinhood has agreed to pay a $29.75 million penalty to settle claims by FINRA related to oversight and compliance violations. Of the total amount, $26 million constitutes a civil penalty, while $3.75 million is allocated for client compensation. According to FINRA, Robinhood failed to address “red flags of potential misconduct,” leading to violations […]

AI translated

ForkLog 19 25.02.2025

OKX to Pay Over $504 Million in U.S. Justice Department Settlement

Aux Cayes FinTech Co, the operator of the bitcoin exchange OKX since 2017, has admitted to operating an unlicensed money transmission business in the United States. OKX pleads guilty to violating U.S. anti-money laundering laws and agrees to pay penalties totaling more than $500 millionhttps://t.co/8rr5e74qrG — US Attorney SDNY (@SDNYnews) February 24, 2025 Under the […]

AI translated

ForkLog 15 28.01.2025

KuCoin Fined $300 Million for Unlicensed Operations

The cryptocurrency exchange KuCoin has admitted to conducting unlicensed money transmission business in the United States and has agreed to pay fines and compensations amounting to nearly $300 million. KuCoin pleads guilty to unlicensed money transmission charge and agrees to pay penalties totaling nearly $300 millionhttps://t.co/0Unaqbvro6 — US Attorney SDNY (@SDNYnews) January 27, 2025 In […]

AI translated

ForkLog 24 16.01.2025

US Justice Department fines BitMEX $100m for Bank Secrecy Act breaches

HDR Global Trading Limited, the operator of the BitMEX crypto-derivatives exchange, was fined $100m in the United States for violating the Bank Secrecy Act. Global cryptocurrency exchange BitMEX fined $100 million for violating Bank Secrecy Acthttps://t.co/eU2zem7JRP — US Attorney SDNY (@SDNYnews) January 15, 2025 The company behind the platform deliberately failed to develop and implement […]

AI translated

ForkLog 9 23.12.2024

Italy Fines OpenAI €15 Million for Privacy Breach

The Italian Data Protection Authority (DPA) has fined OpenAI €15 million for a user data leak, according to a statement from the regulator. The agency’s investigation revealed that OpenAI processed personal user data to train AI models, violating transparency principles and related informational obligations. In March 2023, there was a data leak that the startup […]

AI translated

ForkLog 8 05.12.2024

CFTC Secures Record $17.1 Billion in 2024

In 2024, the U.S. Commodity Futures Trading Commission (CFTC) secured and returned a record $17.1 billion, according to the agency’s report for the fiscal period. .@CFTC brought 58 new actions in fiscal year 2024 and had record monetary relief of over $17.1 billion, which included $2.6 billion in civil monetary penalties and $14.5 billion in […]

AI translated

ForkLog 30 19.11.2024

BIT Mining to Pay $10 Million Fine in U.S. for Bribery in Japan

BIT Mining has agreed to pay a $10 million fine to settle charges from the U.S. Department of Justice over bribing Japanese officials. Former CEO Indicted for Role in Bribing Japanese Officials and BIT Mining Ltd. Resolves Foreign Bribery Investigation ?: https://t.co/FreYjxbkJZ pic.twitter.com/0Q1zDAjur2 — Criminal Division (@DOJCrimDiv) November 18, 2024 In 2021, the Chinese company […]

AI translated

ForkLog 5 15.10.2024

FinCEN Fines TD Bank $1 Billion for Facilitating Cryptocurrency Money Laundering

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department found that TD Bank failed to report suspicious cryptocurrency-related activities amounting to nearly $1 billion. According to the agency, over nine months, the bank processed transactions for a company identified in the plea agreement as Customer Group C. When opening the account, the firm […]

AI translated

ForkLog 6 09.10.2024

Cryptocurrency Firms Pay $32 Billion to US Regulators

US authorities have extracted $32 billion from cryptocurrency companies in settlements over compliance issues, according to a report by CoinGecko. Top Crypto Settlements by US Regulators ?‍⚖️ 1. FTX & @AlamedaResearch — $12.70B2. Celcius — $4.70B3. Terraform Labs — $4.50B4. @binance — $4.30B5. Genesis — $2.00B6. Voyager — $1.65B7. @telegram — $1.24B8. @coinbase — $100M9. […]

AI translated

#Fines