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Bitcoin World 2024-09-05 04:32:31

Fed Issues Cease and Desist Order to Crypto-Friendly United Texas Bank Over AML Violations

Fed issues cease and desist United Texas Bank action has highlighted the challenges crypto-friendly institutions face in adhering to stringent financial regulations. The U.S. Federal Reserve has issued a cease and desist order to United Texas Bank, a small bank servicing the cryptocurrency sector, citing serious deficiencies in its compliance with anti-money laundering (AML) regulations,

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