Before its collapse over the weekend, Signature Bank was reportedly being investigated by U.S. prosecutors over its work with crypto clients.
was being investigated by U.S. prosecutors over its work with crypto clients, Bloomberg reports.
The outlet cited sources familiar with the matter saying that Justice Department investigators in both Manhattan and Washington were trying to establish if Signature had sufficient protections in place to detect possible money laundering. The Securities and Exchange Commission was also reportedly examining the issue. Regulators seized control of Signature Bank on Sunday, days after the collapse of
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