Primecoin

Prior to its closure, it has been claimed that two government agencies in the United States were conducting an investigation into the cryptocurrency-friendly Signature Bank.According to a report that was published on March 15 by Bloomberg, which cited persons with knowledge of the situation, investigators from the Justice Department were looking into whether or not Signature took necessary procedures to detect the possibility of money laundering by its customers.It was observed that the regulator was particularly worried about whether or not the bank was taking preventative measures to monitor transactions for &#34;signs of criminality&#34; and was appropriately screening account holders.According to two anonymous individuals, the Securities and Exchange Commission (SEC) is conducting a separate investigation into the bank while also &#34;taking a look&#34; at the institution. There was a lack of reporting on the specifics of the SEC&#39;s investigation into the matter.It is not known when the investigations began or, if they had any role at all, what effect they had on the recent decision made by authorities in the state of New York to liquidate the bank.It has been stated that Signature and its employees are not being investigated for any misconduct, and it is possible that the investigations may be closed without any charges or additional action being taken by the SEC or the Department of Justice.

Signature Bank Investigated for Money Laundering Prior to Demise: Report

ItsBitcoinWorld

Outros artigos publicados em 15 de mar. de 2023

Shido Staking Platform is Launching!

How Certik Remains The Leader in the Crypto Security Sector?

Ankr and Filecoin Join Forces to Empower Developers with Filecoin-Hosted Nodes Services Through N...

Stargate Advises Against Reissuing STG Token Due to FTX Liquidators Concerns

Transfer Disclosure (198,000 WEMIX)

Payment Platform Worldline Launches on Solana, Bringing Global Payment Solution to Web3

Join our free newsletter for daily crypto updates!