๐จ๐๐ฅ๐๐๐๐๐ก๐ ๐ก๐๐ช๐ฆ: ๐จ๐ฆ ๐๐ฒ๐ฑ๐ฒ๐ฟ๐ฎ๐น ๐ฅ๐ฒ๐๐ฒ๐ฟ๐๐ฒ ๐ง๐ฎ๐ฟ๐ด๐ฒ๐๐ ๐๐ฟ๐๐ฝ๐๐ผ-๐๐ฟ๐ถ๐ฒ๐ป๐ฑ๐น๐ ๐ง๐ฒ๐ ๐ฎ๐ ๐๐ฎ๐ป๐ธ! ๐จ
The crypto world is buzzing! The US Federal Reserve has dropped a bombshell by issuing a cease-and-desist order to United Texas Bank due to โserious deficienciesโ in its AML (anti-money laundering) compliance related to crypto clients. ๐ฆ๐ฅ
The bank's governance and monitoring of suspicious crypto activities have come under fire, with the Fed uncovering significant lapses. They now have 90 days to get things in order, including hiring the right staff and ensuring compliance is top-notch! โณ๐ผ
This isnโt the first of its kind โ Customers Bank also faced similar action recently, raising eyebrows across the crypto space. Is this part of a larger effort to tighten the grip on crypto-friendly institutions in the US? ๐ค
Weโll be keeping a close eye on this story as it unfolds. What do you think โ is this a targeted attack on crypto, or just regulatory housekeeping? Drop your thoughts in the comments below! ๐
#CryptoRegulation #Write2Earn! #TexasBank #CryptoNews #BinanceSquareFamily
