🚨 Crypto News Flash: Block, Inc., led by Jack Dorsey, will pay a $40M fine to NYDFS for lapses in its anti-money laundering and virtual currency compliance on Cash App. The investigation revealed gaps in customer due diligence and transaction monitoring, exposing the platform to risks, especially with Bitcoin transactions. 🏦

- Block must now hire an independent monitor to enhance compliance.

- This follows an $80M penalty for similar issues earlier this year.

What are your thoughts on compliance in crypto? Share in the comments! 💬