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The Federal Reserve accuses United Texas Bank, which is friendly to encryption, of having 'significant flaws' in transactions with encryption-related customers.
BlockBeats News, on September 5th, the Federal Reserve issued a cease and desist order to United Texas Bank, which is encryption-friendly. The reason is that the bank has “significant deficiencies” in its compliance with Anti-Money Laundering laws related to transactions with Cryptocurrency clients, as well as other suspected illegal activities. (DL News)