Bad news! 😕📉 The New York Department of Financial Services reached an agreement with Genesis Global Trading and canceled the BitLicense of the company, which is a subsidiary of the cryptocurrency group Digital Currency Group. 🚫 Why? Major flaws found in Genesis' anti-money laundering and cybersecurity plans! 🔍 The company agreed to stop its operations in New York and pay a penalty of $ 8 million. 💸