: Feds were reportedly investigating Signature Bank before its seizure


Signature Bank of New York was being investigated by the U.S. Justice Department for its work with crypto clients before it was seized by regulators over the weekend, according to a new report.

Bloomberg News reported late Tuesday that federal prosecutors were investigating whether the bank was taking the necessary steps to identify potential money laundering by clients. The Securities and Exchange Commission was also investigating the bank, Bloomberg reported.

This article was originally published by Marketwatch.com. Read the original article here.

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