Why aml Is Trending Today?

Paxos, a blockchain company, has agreed to pay a $48.5 million settlement to the New York Department of Financial Services (NYDFS) due to compliance failures in its partnership with Binance. The settlement follows an investigation into Paxos' anti-money laundering (AML) procedures and oversight of the stablecoin Binance USD (BUSD). This penalty is one of the largest ever imposed on a cryptocurrency company by a U.S. regulator, signaling a shift in the enforcement of crypto regulations.