Tag: Banking industry
Coinbase Urges Banks to Avoid Offering Basic Bitcoin Services: Unredacted FDIC Letters
Coinbase Reveals Unredacted FDIC Letters Urging Banks to Avoid Basic Bitcoin ServicesIn a recent development, Coinbase's chief legal officer, Paul Grewal, has shared unredacted letters from the Federal Deposit Insurance Corporation (FDIC) urging banks...
SEC Sues Silvergate Bank for Misleading Statements on AML Program
The U.S. Securities and Exchange Commission (SEC) recently filed a lawsuit against Silvergate Capital Corporation, the parent company of Silvergate Bank, for allegedly not meeting Bank Secrecy Act/anti-money laundering regulations. The SEC also named...
Silvergate Bank Successfully Resolves Federal Reserve Enforcement Action
Silvergate Bank has successfully resolved a Federal Reserve enforcement action after undergoing liquidation to protect its depositors. The action, which began in May 2023, required the bank to wind down its operations in a...
