Jack Dorsey’s Block To Pay $764,000,000 To Resolve DOJ Anti-Money Laundering Probe

Dextape brief

By Dextape Desk · November 5, 2026

Block, the firm behind Cash App and Square, will pay $764 million to resolve a federal anti-money laundering probe, according to its latest SEC filing. The company said it reached a preliminary accord with the Justice Department in October, a deferred prosecution arrangement that holds off a three-year charge over an allegedly ineffective anti-money laundering program. The charge would be dropped if Block meets the terms. A penalty totaling roughly $964 million drops to $764 million once earlier regulatory settlements are credited, and final approval from a court is still needed. The probe followed a 2023 short-seller report alleging inflated Cash App user numbers, which Block disputed. The SEC closed its own inquiry in March.

Why it matters: The case shows regulators pressing crypto-linked payment firms on anti-money laundering controls, a reminder for readers that compliance failures can carry large financial and legal costs.

Mentioned: Block, Inc.

Summary by Dextape, based on reporting by DailyHodl. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.