According to PANews, after more than a year of negotiations, the Washington State Department of Financial Institutions (DFI) has reached a multi-state settlement agreement with GS Partners. DFI encourages Washington state residents to submit claims through the Gold Standard Bank Settlement Program.

The portal is expected to open in early November 2024 and accept claims for 90 days. Investors are required to prepare cryptocurrency wallet addresses, transaction IDs, and deposit records, and GS Partners will compensate in the form of cryptocurrency after verification.

Previously, DFI and other state regulators filed a lawsuit against GS Partners in November 2023, alleging violations of Washington state securities laws involving Switzerland's Valorem Bank Ltd., GSB Gold Standard Bank Ltd., Josip Heit and Stephen McNeal.

Last month, five states - Alabama, Arizona, Arkansas, Georgia and Texas - reached a settlement with the GSB Group.