2 years ago
The New York State Department of Financial Services (NYDFS) said connected March 14 that its closure of Signature Bank was not related to the bank’s crypto manufacture ties.
Statements cited by assorted outlets including Fortune read:
“The decisions made implicit the play had thing to bash with crypto…The determination to instrumentality possession of the slope and manus it implicit to the FDIC was based connected the existent presumption of the slope and its quality to bash concern successful a harmless and dependable mode connected Monday.”
Previously, Signature committee subordinate and erstwhile U.S. typical Barney Frank alleged that the slope was closed to “send a beardown anti-crypto message.”
Signature was known for serving respective clients successful the crypto manufacture including Coinbase.
However, statements from the regulator liable for its closure intelligibly refute the conception that this was an issue. The NYDFS initially closed Signature connected Monday, March 13.
The station NY regulators accidental Signature Bank closure unrelated to cryptocurrency appeared archetypal connected CryptoSlate.
English (US) 