The New York State Department of Financial Services fined bitFlyer USA $1.2 million for failing to comply with the state’s cybersecurity requirements, the regulator announced on Wednesday.

Financial regulator bitFlyer USA did not meet state cybersecurity regulations, despite holding a New York license.

NYDFS did, however, acknowledge bitFlyer USA’s efforts to improve its cybersecurity. The exchange provided the regulator with a plan to bring bitFlyer US in compliance with the state cybersecurity laws by year’s end.

BitFlyer has been the latest crypto company to be fined by New York’s financial regulator. Coinbase (COIN ) paid $50 million in January to settle charges it allowed users to open accounts without conducting sufficient background checks. Robinhood Markets (HOOD ) paid $30 million for anti-money laundering violations and cybersecurity violations last year.

Parikshit Miishra is the editor.