FTC probes Block over complaints of frozen accounts
- —FTC opened an investigation into Block (XYZ)
- —The agency is examining possible consumer protection violations
- —The probe follows complaints about frozen accounts
- —The inquiry was disclosed in a legal filing submitted Wednesday
Why it matters: The probe targets Cash App, one of the largest crypto and payments platforms in the US, and could result in penalties or changes to its practices.
Source: Seeking Alpha Crypto