Block to pay $45.00 million to settle with US multi-state regulators

MetaEraJul 9, 2026
#Crypto Stocks XYZ-1.30%
On July 9 (UTC+8), Block agreed to pay $45 million to settle with regulatory authorities from nearly 50 U.S. states.

Previously, regulators had accused Block’s Cash App of exaggerating its platform security, describing it as offering fund protection comparable to that of traditional banks, while failing to effectively prevent fraud and lacking adequate customer support and fraud reporting channels.

Under the settlement agreement, Block must enhance its customer service, provide 24/7 real-time support, and cease making misleading statements about platform security. (Source: Foresight News)

[ME News]

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Block to pay $45.00 million to settle with US multi-state regulators

MetaEraJul 9, 2026
#Crypto Stocks XYZ-1.30%
On July 9 (UTC+8), Block agreed to pay $45 million to settle with regulatory authorities from nearly 50 U.S. states.

Previously, regulators had accused Block’s Cash App of exaggerating its platform security, describing it as offering fund protection comparable to that of traditional banks, while failing to effectively prevent fraud and lacking adequate customer support and fraud reporting channels.

Under the settlement agreement, Block must enhance its customer service, provide 24/7 real-time support, and cease making misleading statements about platform security. (Source: Foresight News)

[ME News]

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