By Kanjyik Ghosh
US prosecutors were investigating Signature Bank’s association with crypto clients before regulators suddenly seized the lender last weekend, Bloomberg News reported on Tuesday, citing people familiar with the matter.
U.S. Justice Department investigators in Washington and Manhattan were examining whether the now-collapsed bank took necessary steps to detect potential money laundering by its clients, according the report, adding that the Securities and Exchange Commission (SEC) was also scrutinizing the bank.
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