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Bitcoin.com 2024-06-15 13:20:04

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

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, especially in its dealings with fintech companies and prominent crypto players like FTX. Compliance Concerns Trigger Regulatory Action Against Evolve Bank Evolve Bank

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