United States of America: State Financial Regulators' investigation into Block's compliance with anti-money laundering requirements
Progress
Current status
under investigation
15 Jan 2025 under investigation
Scope
Implementers
United States of America
Policy Area
Consumer protection
Policy Instrument
User identification requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
national
Timeline of events
State financial regulators reached settlement agreement with Block over alleged non-compliance with anti-money laundering requirements
On 15 January 2025, 48 state financial regulators signed a settlement agreement and consent order resolving compliance concerns with Block's anti-money laundering (AML) programme under the Bank Secrecy Act. The agreement follows a multi-state examin…
SourceEvent type
investigation
Action type
interim ruling
Government branch
executive
Government body
other regulatory body