Block, the parent company of Cash App and Square, reached a three-year deferred prosecution agreement with the US Department of Justice over a money laundering charge. The agreement is not an acquittal and will place the company under federal oversight for the full period, provided it meets its obligations. Previous investigations identified shortcomings in transaction monitoring, customer due diligence and suspicious activity reporting, including for high-risk transactions involving bitcoin. In April 2025, Block paid a $40 million penalty to the New York Department of Financial Services and later committed approximately $80 million to remediate deficiencies under a multistate settlement finalized in July 2025. The company is also subject to separate consumer protection settlements totaling $45 million in 2026, while its bitcoin services are expected to face heightened regulatory scrutiny.
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