
Paxos to Pay $26.5 Million Fine for Binance Partnership Compliance Lapses
Paxos Trust Company will pay $26.5 million to the NYDFS. This payment settles allegations over its former compliance with Binance. In its cease and desist order, the New York financial services regulator claimed that Paxos Trust also failed to exercise sufficient due diligence over Binance. This penalty addresses violations resulting...