Customers Bank, a key ally for crypto in the U.S., received a warning from the Federal Reserve regarding risk management and anti-money laundering practices.
The Federal Reserve's enforcement action against Customers Bank is seen as part of a broader initiative, ‘Operation Choke Point 2.0’, targeting the crypto industry.
The U.S. Federal Reserve has mandated Customers Bank to improve its AML protocols and limit digital asset risks, citing compliance deficiencies.
Tyler Winklevoss criticizes the US Federal Reserve's punitive measures against Customers Bank, highlighting regulatory tensions with the crypto industry.
The US Federal Reserve's actions against crypto-friendly Customers Bank continue to reflect Operation Choke Point 2.0, according to Tyler Winklevoss. This term addresses how regulators use financial censorship against the crypto industry.
The US Federal Reserve has enforced actions against Customers Bancorp and Customers Bank for flaws in risk management and anti-money laundering practices. This has drawn attention, especially within the crypto market, due to the bank's involvement in digital assets.
The Federal Reserve identified deficiencies in risk management practices at Customers Bank, a bank favored by the crypto community.
The Federal Reserve has sanctioned crypto-friendly Customers Bank for serious risk management and anti-money laundering deficiencies.
The FED will impose sanctions on Customers Bank, known for its cryptocurrency-friendly stance. Further details are available in the press release.
BTC price increases amid FDIC concerns, with Customers Bank reducing its crypto hedge fund clients. The FDIC's alert highlights broader instability and unrealized losses in the financial and cryptocurrency markets.
Customers Bank has offboarded some inactive digital asset hedge fund accounts, rather than a widespread debanking of hedge-fund clients.
Customers Bank to enhance AML compliance following Fed scrutiny.
