United States of America: Investigation into Genesis Global Trading Inc. for Alleged Compliance Failures
Progress
Current status
in force
12 Jan 2024 in force
Scope
Implementers
United States of America
Policy Area
Data governance
Policy Instrument
Cybersecurity regulation
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central government
Implementation Level
subnational
Timeline of events
Issued NYDFS Fine against Genesis Global Trading Inc. for Violating Virtual Currency and Cybersecurity Regulations
On 12 January 2024, the New York State Department of Financial Services (DFS) imposed an USD 8 million fine against Genesis Global Trading Inc. for compliance failures that violated DFS's virtual currency and cybersecurity regulations. The DFS inves…
SourceEvent type
investigation
Action type
ruling
Government branch
executive
Government body
central government