Silvergate Capital announced the closure of its Silvergate cryptocurrency bank. Its activities will be stopped, and the bank itself will be liquidated in accordance with the law, the press release says. “In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of Bank operations and a voluntary liquidation of the...
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Silvergate Bank Discontinues Cryptocurrency Transfers
Silvergate Bank announced the termination of the network for cryptocurrency transfers Silvergate Exchange Network (SEN), writes Reuters. The decision comes days after the crypto-focused bank said it was uncertain about the viability of its business. “Effective immediately Silvergate Bank has made a risk-based decision to discontinue the Silvergate Exchange Network (SEN). All other deposit-related services...