According to Decrypt, Jack Dorsey's Block, Inc. has reached a $40 million settlement with the New York Department of Financial Services (NYDFS) due to "serious errors" in its anti money laundering compliance procedures. NYDFS pointed out that due to insufficient due diligence by Block customers, they have failed to effectively prevent money laundering and illegal activities, and their "loose handling" of Bitcoin transactions is easily exploited by criminals. Block needs to hire independent inspectors to rectify its compliance with fund transfers and virtual currency business. Block has been regulated by NYDFS through BitLicense since 2018, and the Cash App stopped offering free P2P Bitcoin payments last year. On April 10th, Block's stock price fell 3.7% in early trading and accumulated a 36% decline for the year. http://(wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=40788