⚖️ CASH APP AND THE U.S. JUSTICE DEPARTMENT: BLOCK PREPARES $764M PAYMENT
Block, the owner of Cash App, disclosed a preliminary agreement with the U.S. Justice Department in a case involving alleged violations of anti-money laundering rules. After crediting previous settlements, the potential payment would be about $764 million.
The proposal provides for a three-year deferred prosecution. But a final agreement has not yet been reached: final documents and court approval are still needed. Separately, Block reported that gross profit from its bitcoin business fell by half in the third quarter, to $52 million.
Sources: Block’s SEC filing, Reuters, CoinDesk (November 3–4).
#CashApp #Крипторынок
Block, the owner of Cash App, disclosed a preliminary agreement with the U.S. Justice Department in a case involving alleged violations of anti-money laundering rules. After crediting previous settlements, the potential payment would be about $764 million.
The proposal provides for a three-year deferred prosecution. But a final agreement has not yet been reached: final documents and court approval are still needed. Separately, Block reported that gross profit from its bitcoin business fell by half in the third quarter, to $52 million.
Sources: Block’s SEC filing, Reuters, CoinDesk (November 3–4).
#CashApp #Крипторынок