Block Inc. Negotiates Bitcoin Compliance with NYDFS

Block Inc., the parent company behind Cash App and Square, is engaged in discussions with the New York State Department of Financial Services (NYDFS) to address regulatory concerns regarding its Bitcoin operations and anti-money laundering (AML) programs. The talks stem from a recent SEC filing detailing negotiations over Block’s compliance framework, particularly around Bank Secrecy Act (BSA) regulations and its Bitcoin-related activities. The outcome will determine whether a settlement can be reached between the two parties.