Paxos settles with New York regulator for $48.5M over Binance partnership

<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDgvMDE5ODg1NmUtYTY3Yy03NzY5LTliNmUtMGRkZWVhY2ZiYjgx.jpg" alt="Paxos settles with New York regulator for $48.5M over Binance partnership"></p><p>The New York Department of Financial Services (NYDFS) said the fine was due to a lack of anti-money laundering oversight.</p>