Block Books $764 Million for Planned DOJ Deal That Would Defer a Bank Secrecy Act Charge

Dextape brief

By Dextape Desk · November 4, 2026

Block, which runs Cash App and Square, has booked a $764 million accrual tied to a proposed Justice Department deferred prosecution agreement over anti-money laundering controls. The quarterly SEC filing posted November 3 shows the probe began in 2023. Under an October agreement in principle, prosecutors would move to dismiss a Bank Secrecy Act charge after three years if Block stays compliant. The deal is unsigned, needs court approval, and costs could exceed the accrual. Bitcoin-related gross profit came in at $52 million, versus $104 million a year before, which Block linked to a lower fee on some Cash App bitcoin transactions. Block's forecast for 2026 gross profit now stands at $12.626 billion, above its August estimate of $12.51 billion.

Why it matters: The filing shows that compliance costs and thinner bitcoin margins are pressing on a major crypto-enabled payments firm at the same time.

Mentioned: Bitcoin

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