Signature Bank Closure Has Nothing to Do With Crypto, Says Regulator – Finance Bitcoin News

The decision to close down Signature Bank had “nothing to do with crypto,” said the New York State Department of Financial Services, the regulator that took possession of the troubled bank on Sunday. The financial watchdog insisted that its decision to put Signature Bank in receivership “was based on the current status of the bank and its ability to do business in a safe and sound manner.

Former U.S. Representative Barney Frank, who was involved in the drafting of the Dodd-Frank Act and had been a member of Signature Bank’s board since 2015, believes that the regulator’s move was related to cryptocurrency. He told CNBC Monday:“We became the poster boy because there was no insolvency based on the fundamentals,” he opined.

Responding to claims that the closure of Signature Bank was crypto-related, a spokesperson for the New York State Department of Financial Services told Fortune: The NYDFS spokesperson further shared that withdrawal requests ballooned over the weekend but Signature Bank failed to provide reliable and consistent data.

evanhar92501491 That's great news to hear! It's always important for regulators to make sure banks are running smoothly. Let us continue our amazing journey in the world of cryptocurrency without any obstacles like bank failures. Exciting times ahead with DFS paving the way forward!

BTC fake pump target 21k directional target 18.5k then resistance 16k zone

Hahaha

Good to know that the decision was not related to cryptocurrency, as it could have caused further disruption in the market.

Hey guys, just letting you know, Chase bank as of this evening is not allowing withdraws of cash from ATM's, nor will they allow the purchase of Crypto using a Chase account

Ok then, I also listen to ChiefraFba for signals and analysis!..I have a 93% win rate in 3 months of copying his signals!

Totally agree, but I only use ChiefraFba for signals and analysis

Amazing stuff, I only use ChiefraFba for signals and analysis.. 92% win rate in 2 months of copying his signals!

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

TELL US: How did you do business with Silicon Valley Bank or Signature Bank?U.S. regulators closed Silicon Valley Bank on Friday after it experienced a traditional bank run, where depositors rushed to withdraw funds all at once. New York-based Signature Bank also collapsed. I didn’t. Here is your proof of the ds controlled bidens administration of complete failure to our Nation and its people! It’s a wonderful bank, with Biden as President, no matter what kind of investment you make, you never lose. Spread the word.
Source: wjxt4 - 🏆 246. / 63 Read more »