Current and former Coinbase executives are accused in a derivative lawsuit of failing to fulfill compliance duties, leading to severe regulatory penalties and market losses for the company. The lawsuit alleges that CEO Brian Armstrong and other executives misled investors about the effectiveness of the company’s Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures, and proceeded with a public stock offering despite being aware of flaws in the internal compliance system. The plaintiffs claim that this negligence not only resulted in a $100 million fine from the New York State Department of Financial Services (NYDFS) but also dragged the company into prolonged legal disputes with the U.S. SEC, significantly harming shareholder interests. (Cointelegraph) http://(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=57631