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Paxos, Binance and New York

Paxos Trust in $48.5 million New York settlement over Binance-related lapses
Paxos Trust reached a $48.5 million settlement to resolve New York charges the virtual currency company failed to police illegal activity related to cryptocurrency exchange Binance, the state's financial services regulator said on Thursday.
Paxos settles with New York regulator for $48.5M over Binance partnership
The New York Department of Financial Services has reached a financial settlement with crypto company Paxos over its partnership with Binance.
Paxos fined $48.5M over AML and Binance oversight failures
New York's bank regulator says Paxos ignored obvious money-laundering red flags and lacked basic compliance controls, particularly in its dealings with Binance.
Paxos to pay $48.5M over AML, due-diligence failures
Some of the charges stem from the stablecoin issuer’s relationship with Binance. The agreement includes a $22 million investment in Paxos’ compliance program and a $26.5 million payment to New York’s Department of Financial Services.
Stablecoin Provider Paxos to Pay $26.5M Fine to Settle Charges Related to Binance
Stablecoin issuer Paxos Trust will pay a $26.5 million penalty to New York State to resolve charges related to its previous partnership with the world's biggest crypto exchange, Binance, the New York State Department of Financial Services announced Thursday.
Paxos reaches $48m settlement with NYDFS over Binance, AML failures
Paxos has settled with the New York Department of Financial Services. The company will pay a $26.5 million fine and invest another $22 million in compliance. Paxos said the issues, identified in 2023,
Paxos to pay $48.5 million in BUSD case settlement, Binance due diligence flagged
Paxos Trust Company has agreed to pay $48.5 million to settle charges brought by the New York Department of Financial Services (NYDFS) over compliance failures tied to its partnership with Binance. The regulator accused Paxos of not conducting adequate due diligence when it teamed up with the crypto exchange to issue Binance USD (BUSD),
New York Regulator Secures $48.5M Settlement From Paxos Over Binance Dealings
Paxos has reached a $48.5 M NYDFS settlement after weak monitoring of flows linked to Binance, missing $1.6 B in risky transfers.
NYDFS Fines Stablecoin Issuer Paxos $26.5M for Compliance Failures Tied to Binance’s BUSD
New York’s top financial regulator has fined Paxos, a New York City-based stablecoin issuer, $26.5 million for “systemic failures” in its compliance and anti-money laundering programs, including a past partnership with global crypto exchange Binance,
Paxos Trust reaches $48.5 million settlement with New York related to Binance
Paxos Trust reached a $48.5 million settlement to resolve New York charges it failed to conduct sufficient due diligence of its former partner Binance, and had systemic failures in its anti-money laundering program,
Paxos Trust has agreed to pay a $48.5 million settlement to NYDFS over Binance, AML failures
Paxos Trust has agreed to pay a $48.5 million settlement to the New York Department of Financial Services (NYDFS), resolving allegations that it failed to properly monitor illicit activity tied to its former partnership with Binance,

In $48.5M Settlement With New York State, Paxos Will Overhaul Money-Laundering Controls and Diligence Failures Relative to Ex-Partner

While Paxos Trust Co. agreed to pay the state of New York $26.5 million, it said the historic compliance issues have no ...
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Binance Unveils New Financial Services : Institutional Loans, Binance ...

Teng emphasized Binance’s focus on compliance, with over 1,000 new hires in 2024, including 500 roles in compliance, risk management, and customer support.