Jack Dorsey's Block Faces DOJ Probe Over Alleged Transactions With Sanctioned Nations and Terrorist Groups – News Bytes Bitcoin News
Bitcoin News - 2024-05-02T02:30:17.000Z

Department of Justice (DOJ) federal prosecutors from the Southern District of New York are investigating fintech company Block, formerly known as Square, for significant compliance failures in its transaction monitoring systems after a former employee revealed lapses that included processing transactions with sanctioned nations and groups linked to terrorism. Allegations against Block include handling transactions […]

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Jack Dorsey's Block Faces Federal Probe Over Alleged Bitcoin Transactions For Terrorist Groups
According to an NBC report, federal prosecutors have initiated an investigation into Block, the financial technology company founded by Twitter co-founder Jack Dorsey, following allegations of compliance failures and links to terrorist networks through alleged crypto transactions. Notably, a former employee of Block has provided documents to the Southern District of New York, revealing compliance […]
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- 2024-05-02T20:00:58.000Z
Block reportedly greenlit transactions involving terrorist groups and sanctioned nations
Block appears to be squarely in the government’s sights. Prosecutors from the Southern District of New York are reportedly probing extensive compliance lapses at the parent company of Square and Cash App. NBC News says a former Block employee has handed over documents to federal authorities, painting a picture of how the company failed to gather required risk-assessment information from customers and subsequently processed illegal transactions. The documents allegedly show that Block greenlit...
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- 2024-05-01T18:12:23.000Z
Jack Dorsey's Block Targets Chip Advancement With 3nm Bitcoin ASIC Mining Rig – Mining Bitcoin News
On Tuesday, Jack Dorsey, the founder of Block, took to X to announce that the company is “building a mining rig.” Dorsey also shared a blog post authored by Block’s lead for mining hardware products, Naoise Irwin. The post revealed enhancements in the chip design, upgrading from the initially planned 5-nanometer (nm) process to an […]
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- 2024-04-23T21:36:16.000Z

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Jack Dorsey's Block Faces Federal Probe Over Alleged Bitcoin Transactions For Terrorist Groups

Block reportedly greenlit transactions involving terrorist groups and sanctioned nations

Jack Dorsey's Block Targets Chip Advancement With 3nm Bitcoin ASIC Mining Rig – Mining Bitcoin News