Block reaches three-year deferred prosecution agreement with DOJ over money laundering charge

The Cash App and Square parent gets a three-year window to show federal prosecutors its anti-money laundering program is fixed Block, the company behind Cash App and Square, has reached an agreement with the US Department of Justice to defer a money laundering charge for three years. That is not an acquittal. It is closer to probation for a corporation, and the clock is now running. The deal is a deferred prosecution agreement, or DPA, tied to Block’s anti-money laundering (AML) compliance. It follows years of regulatory pressure over how Cash App monitored transactions and vetted customers, including activity involving Bitcoin . Think of a DPA as a suspended sentence that arrives before the trial. Prosecutors file a charge but agree to hold off on pursuing it.

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