Paxos Trust Pays $48.5M Settlement Over Binance Dealings

📌 Reason: Regulators found Paxos failed in AML & due diligence while partnering with Binance.

💰 Breakdown:

$26.5M → Fine to New York authorities

$22M → Investment to strengthen compliance systems

⚖️ Message from Regulators: Crypto firms must tighten AML safeguards and compliance when working with high-risk platforms.