Paxos pays US$26.5m in New York for Binance AML not checked and wider CDD, monitoring defects

The first company to be granted a charter in New York to offer cryptocurrency services has been fined US$26.5 million for anti-money laundering compliance failings, notably in its dealings with Binance, the world's leading digital currency exchange.

The first company to be granted a charter in New York to offer cryptocurrency services has been fined US$26.5 million for anti-money laundering compliance failings, notably in its dealings with Binance, the world's leading digital currency exchange.