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United Texas Bank Faces Regulatory Action for AML Failures Linked to ‘Virtual Currency Customers’

[Sep 4, 2024 9:09 PM] United Texas Bank has been issued a cease and desist order by the U.S. Federal Reserve and the Texas Department of Banking due to significant compliance deficiencies. The bank must take immediate action to rectify issues related to its anti-money…

New Hampshire Regulator Orders Cease and Desist Against Finstate Investment for Crypto Fraud

[Aug 19, 2024 2:30 AM] The New Hampshire Bureau of Securities Regulation has issued a cease and desist order against Finstate Investment LLC, accusing it of defrauding investors via a fraudulent cryptocurrency investment website. Finstate allegedly misrepresented account…

Crypto Friendly Evolve Bank Under Scrutiny: Cease and Desist Order Issued 

[Jun 15, 2024 7:20 AM] The Federal Reserve and Arkansas State Bank Department have mandated sweeping reforms at Evolve Bank & Trust following significant compliance breaches. The order highlights issues in anti-money laundering efforts and consumer protection…

Farmington Bank Faces Fed Wrath: Alameda-Backed Financial Institution Ordered to Shutdown

[Aug 21, 2023 12:30 AM] In a statement released August 17, 2023, Farmington State Bank, with an investment from Sam Bankman-Fried’s Alameda Research, consented to a cease and desist order from the U.S. Federal Reserve. Alameda invested $11.5 million into the bank’s…

Prime Trust can't honor customer withdrawals, says Nevada regulator

[Jun 22, 2023 4:53 PM] Nevada's business regulator issued a cease and desist order to the crypto custodian alleging it has a "shortfall of customer funds."

Alabama Securities Regulator Issues Show Cause Order to Coinbase, Joined by 9 Other States, Over Unregistered Securities

[Jun 6, 2023 8:40 AM] After Coinbase was sued by the U.S. Securities and Exchange Commission (SEC), the Alabama Securities Commission (ASC) filed a show cause order against Coinbase and directed the company to show cause on why the firm should not cease and desist from…

Multiple US state regulators allege AI trading DApp is a Ponzi scheme

[Apr 4, 2023 8:34 PM] The scheme allegedly claimed it could generate returns of up to 2.2% a day by leveraging AI to trade more often and with higher profits than a person could.

Nexo agrees to $45M settlement with SEC and states over earn product

[Jan 19, 2023 4:38 PM] The crypto lender didn’t admit or deny the findings from the SEC’s investigation despite agreeing to the settlement.