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Crypto-Friendly Bank Ordered by U.S. Federal Reserve to Limit Risks From Digital Asset Clients

by SB Crypto Guru News
August 8, 2024
in Crypto Updates
Reading Time: 1 min read
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Under the order, the bank has to soon provide the Fed a series of written plans and a new approach to compliance, including an agreement to “ensure that the Bank collects, analyzes, and retains complete and accurate information for all customers.” The bank must notify the Fed 30 days in advance of taking on “any new strategic initiative, product, service, or relationship with third parties related to the digital asset strategy.”



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Tags: AssetBankBitcoin NewsClientsCrypto NewsCrypto UpdatesCryptofriendlyDigitalFederalLatest News on CryptoLimitorderedReserveRisksSB Crypto Guru NewsU.S
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