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Washington State Moves to Shut Down Coinflip Amid Money Laundering Allegations

Guavy AI Editorial Team
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Washington state is moving to revoke Coinflip's operating license, imposing a $102.96 million fine and industry ban on the cryptocurrency exchange.

The decision comes after a lengthy investigation into alleged money laundering activities linked to Coinflip.

Coinflip has been at the center of controversy in recent months, with allegations of inadequate anti-money laundering (AML) measures and failure to report suspicious transactions.

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