The New York Prosecutor’s Office said that the conclusion of a settlement agreement with Galaxy Digital emphasizes The effectiveness of the efforts of the US authorities to protect investors in an unstable crypto market.
“For Galaxy, this should be a lesson in responsibility for its actions, and for the crypto industry-a signal of the need to comply with strict standards,” said the representative of the Office of the Prosecutor General of the New York.
The terms of the settlement agreement provide for the payment of $ 200 million for three years. The first payment of $ 40 million should be made within two weeks from the date of signing the document consisting on March 24.
In addition, Galaxy pledged to introduce strict internal norms for preventing a conflict of interest, including legal analysis of transactions with tokens and public statements. Galaxy did not recognize and did not refute the charges, preferring the voluntary settlement of the judicial dispute.
Earlier, the Terraform Labs liquidation commission announced the upcoming launch of the Internet portal through which lenders affected by the Terrausd token fall will be able to send an application for the payment of compensation. The portal for sending claims should open on March 31. Applications of creditors will be accepted by the consulting company Kroll.
Source: Bits
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