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

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