Block's DOJ settlement is bigger than its entire quarterly profit.
$764M proposed to resolve the anti-money-laundering probe, vs $566M Q3 profit (CoinDesk).
A criminal charge would be deferred for 3 years.
Meanwhile Block's bitcoin gross profit fell 50% to $52M after Cash App cut fees on some BTC transactions.
Takeaway: compliance is now a line item that can outweigh trading revenue. Exchanges and payment apps handling $BTC will keep feeling that pressure as US rules tighten.
Does heavier compliance cost make crypto safer, or just push users to bigger platforms?
#Bitcoin #Crypto #Regulation #Block
$764M proposed to resolve the anti-money-laundering probe, vs $566M Q3 profit (CoinDesk).
A criminal charge would be deferred for 3 years.
Meanwhile Block's bitcoin gross profit fell 50% to $52M after Cash App cut fees on some BTC transactions.
Takeaway: compliance is now a line item that can outweigh trading revenue. Exchanges and payment apps handling $BTC will keep feeling that pressure as US rules tighten.
Does heavier compliance cost make crypto safer, or just push users to bigger platforms?
#Bitcoin #Crypto #Regulation #Block