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. The DFI is encouraging Washington state residents who invested with GS Partners to submit claims through the Gold Standard Bank settlement plan. The portal is expected to open in early November 2024 and will accept claims for a 90-day period. Investors are advised to prepare relevant documents, such as cryptocurrency wallet addresses, transaction IDs, and deposit records, before submitting their claims. Compensation will be paid in cryptocurrency to the investors' crypto wallets after eligibility verification by GS Partners.

Previously, in November 2023, the DFI, along with other state regulatory agencies, filed a lawsuit against GS Partners, alleging violations of Washington state securities laws. The allegations involved Swiss Valorem Bank Ltd., GSB Gold Standard Bank Ltd., Josip Heit, and Stephen McNeal, focusing on their MetaCertificates product and multi-level marketing scheme. This action was coordinated by a multi-state task force, with participation from Canadian securities regulators. Last month, five states—Alabama, Arizona, Arkansas, Georgia, and Texas—reached a settlement agreement with the GSB Group.