Block’s $964 Million DOJ Proposal Could Fall to $764 Million

Block has reached a deal in principle with the U.S. Department of Justice (DOJ) over anti-money-laundering lapses, with a proposed payment of $964 million. Credits for prior regulatory resolutions could reduce the payment to about $764 million. The proposed amount before credits is $964 million; the potential amount after the credits is about $764 million. Those figures refer to one payment under the deal in principle, with the lower estimate tied to credits from prior regulatory resolutions. The proposed DOJ resolution concerns anti-money-laundering lapses. Separately, Block’s bitcoin ecosystem gross profit fell 50%, primarily because Cash App cut fees.

Source: TokenPost