CoinVoice has recently learned that FlowBank, a Swiss online bank that provides cryptocurrency services, has been closed by the Swiss financial regulator and filed for bankruptcy.

The Swiss Financial Market Supervisory Authority (FINMA) said the bank no longer had sufficient capital to sustain its banking operations and was in serious breach of minimum capital requirements.

FINMA also said there were “good reasons to be concerned that the bank is currently over-indebted” and that there were “no prospects for restructuring”. [Original link]