The post FED Orders United Texas Bank to Fix AML Deficiencies for Crypto Clients appeared first on Coinpedia Fintech News
Fed tightens AML rules for betterment, the Federal Reserve has issued a cease-and-desist order to United Texas Bank, citing “significant deficiencies” in anti-money laundering (AML) compliance related to its crypto customers. The Dallas-based bank has 90 days to submit a detailed action plan to address these issues. This action is part of a broader crackdown on U.S. banks servicing crypto firms, following similar scrutiny faced by other banks like Customers Bank. The Fed’s enforcement underscores growing challenges for crypto firms in securing banking partners amid increasing regulatory pressure.
