Block to pay $45.00 million to settle with U.S. multi-state regulators

ForesightNewsJul 9, 2026
#Crypto Stocks XYZ-1.30%
According to The Block, Block has agreed to pay $45.00 million to settle with regulators from nearly 50 U.S. states.

Previously, regulators had accused Block's Cash App of exaggerating its platform's security measures, describing it as having fund protection capabilities close to traditional banks, but failing to effectively prevent fraud and not providing adequate customer support and channels for reporting scams.

Under the settlement agreement, Block must enhance customer service, provide 24/7 real-time support, and cease making misleading statements about platform security.

[Foresight News]

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Block to pay $45.00 million to settle with U.S. multi-state regulators

ForesightNewsJul 9, 2026
#Crypto Stocks XYZ-1.30%
According to The Block, Block has agreed to pay $45.00 million to settle with regulators from nearly 50 U.S. states.

Previously, regulators had accused Block's Cash App of exaggerating its platform's security measures, describing it as having fund protection capabilities close to traditional banks, but failing to effectively prevent fraud and not providing adequate customer support and channels for reporting scams.

Under the settlement agreement, Block must enhance customer service, provide 24/7 real-time support, and cease making misleading statements about platform security.

[Foresight News]

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