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cryptonews
2024-01-13 00:00:45

Genesis Global Trading Settles with NYDFS, Pays $8 Million Penalty, and Surrenders BitLicense

Genesis Global Trading Settles with NYDFS, Pays $8 Million Penalty, and Surrenders BitLicense

Genesis Global Trading, a subsidiary of Digital Currency Group, has agreed to pay an $8 million penalty to the New York State Department of Financial Services (NYDFS) after settling allegations of compliance failures. The NYDFS accused the company of violating virtual currency and cybersecurity regulations, leading to its vulnerability to illicit activities and cybersecurity threats. The post Genesis Global Trading Settles with NYDFS, Pays $8 Million Penalty, and Surrenders BitLicense appeared first on Cryptonews .

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