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Topic: Signature Bank didn't collapse. It got killed. [SEC Vs Crypto] - page 2. (Read 251 times)

legendary
Activity: 2436
Merit: 1561

I wasn't very fond of Coin Bureau youtube channel for them being notorious in shilling various altcoins, but they seemed to improve a lot and are doing pretty solid homework on legal and regulatory issues relating to Bitcoin and crypto in general.

Here's their recent video on (crypto-friendly) Signature Bank, which shows some nuances that you won't hear in the mainstream media and is related to the wider crypto crack-down (aka operation Choke Point 2.0)

https://www.youtube.com/watch?v=5YZ6TG3iXKU

Short summary (generated by Merlin tool):

✦ Signature Bank, the final pro-crypto bank in the US, was shut down by regulators despite being solvent.
✦ Signature bank developed Signet, a platform to transfer US Dollars 24/7 for its crypto clients.
✦ Signet and Silvergate are two pro-crypto banks with overlapping client bases, but differences in their service offerings.
✦ Signature Bank shut down by NYDFS, causing huge issues for crypto companies.
✦ Regulators targeted Signature Bank due to its Signet platform.
✦ The FED may be threatened by private sector competition.
✦ US regulators are targeting stablecoins as their final crypto competitor to crush.
✦ Global Crackdown on crypto may happen this summer.

Really good watch and puts things into perspective.
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