What steps is Coinbase taking to address the issues raised in the consent order?

3 answers

• Dec 30, 2021 · 3 years ago
  Coinbase is committed to addressing the issues raised in the consent order and has taken several steps to ensure compliance. They have implemented enhanced customer due diligence procedures, strengthened their AML and KYC policies, and increased their investment in compliance personnel and technology. These measures aim to prevent money laundering, terrorist financing, and other illicit activities on their platform.
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• Dec 30, 2021 · 3 years ago
  To address the concerns raised in the consent order, Coinbase has also improved their transaction monitoring and reporting capabilities. They are working closely with regulatory authorities to enhance their systems and processes, ensuring that they meet the highest standards of compliance. By collaborating with industry experts and investing in advanced technologies, Coinbase aims to provide a secure and transparent trading environment for their users.
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• Dec 30, 2021 · 3 years ago
  At BYDFi, we understand the importance of regulatory compliance. Coinbase is taking proactive steps to address the issues raised in the consent order. They have implemented robust internal controls and are conducting regular audits to ensure adherence to regulatory requirements. Coinbase is also actively engaging with regulators and industry stakeholders to share best practices and contribute to the development of a safer and more transparent digital asset ecosystem.
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