Coinbase, a publicly traded cryptocurrency exchange, will pay $100 million in fees because of "significant failures in its compliance program" that violated New York state laws.
Wednesday's announcement of the settlement between Coinbase and the New York State Department on Financial Services comes on the heels of other actions by other regulatory agencies to monitor cryptocurrency companies. Those efforts have gained urgency after the November collapse of FTX, one of the largest cryptocurrency exchanges in the world. Its former founder, Sam Bankman-Fried now faces multiple criminal charges.
