The Federal Reserve takes enforcement action against Customers Bank, requiring it to limit risks for digital asset customers

ChainCatcher news, according to Bitcoin.com, the U.S. Federal Reserve pointed out significant compliance deficiencies in Customers Bank's digital asset strategy and instant payment network.

This enforcement action requires the bank to strengthen its anti-money laundering (AML) protocols and limit risks associated with its digital asset clients.

In addition, cryptocurrencies further complicate the regulatory landscape. The recent failures of Silicon Valley Bank (SVB) and Signature Bank highlight the risks and regulatory challenges U.S. banks face in the technology and cryptocurrency sectors.