🔍 US prosecutors are investigating Jack Dorsey's Block for allegedly processing transactions linked to sanctioned countries and potentially terrorist activities. 😲

• A former employee claims Block failed to report transactions, including Bitcoin ones, to the government as required.

• The company also allegedly didn't fix processes when alerted to these breaches.

• The ex-employee also criticized Block's compliance department, calling it fundamentally flawed.

But Block's not backing down. 🛡️

• The company says its legal team and consultants are advising on the issue and appropriate remediation.

• It's also already conducting regular sanctions screenings on all its merchants.

Despite the controversy, Block's Bitcoin sales are booming. 💰

• In Q4 2021, it disclosed $1.92 billion in Bitcoin sales, resulting in profits of $46 million.

What do you think about this? Is Block in hot water or will it weather the storm? Let's chat in the comments! 👇 #DeFi #CryptoNews