New York State Department of Financial Services and Coinbase reach $100 Million Settlement - JD Supra
NYDFS and Coinbase settle for $100M over BSA/AML compliance failures, signaling heightened enforcement for crypto firms.
Aforeworn detected this change in the Money Services & Money Transmitters space on July 26, 2026 and published this briefing so affected operators are forewarned rather than caught off guard. It is rated High urgency. Crypto/virtual-currency firms, money transmitters operating in NY or with NY customers should confirm how it applies to their specific situation before acting. There is a time constraint attached: Immediately; regulatory scrutiny is ongoing.. Acting after that point can mean penalties, a lapsed licence, or lost eligibility — exactly the kind of surprise Aforeworn exists to prevent. Aforeworn monitors Money Services & Money Transmitters continuously and turns every detected change into a plain-English briefing like this one, so you always know first. Forewarned is forearmed.
What changed
NYDFS imposed a $100M settlement on Coinbase for systemic AML deficiencies, including failure to file SARs and maintain adequate compliance staffing.
Who it affects
Crypto/virtual-currency firms, money transmitters operating in NY or with NY customers
What you must do
Review and strengthen BSA/AML programs, ensure timely SAR filings, and verify compliance staffing levels.
Deadline
Immediately; regulatory scrutiny is ongoing.
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- Louisiana Enacts New Money Transmission Act, Largely Adopting Model Money Transmission Modernization Act - The National Law Review