Regulatory Alerts2020-07-31
Added · Updated
Consent Order Regarding Paxos Trust Company, LLC
Paxos Trust Company, LLC must cease and desist from engaging in money transmission in Connecticut without a license and pay a $10,000 civil penalty and $7,500 in back licensing fees. The order resolves allegations that Paxos violated the Money Transmission Act by operating without the required state license from May 2015. Paxos waives its right to a hearing or judicial review, and the matter is closed provided the entity complies with the sanctions and discloses the order on NMLS.
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