Signature Bank acquirer will be forced to abandon crypto
The Federal Deposit Insurance Corporation (FDIC) still believes it could sell Silicon Valley Bank and Signature Bank either in whole or in part. Until March 17, the regulator is accepting bids from potential buyers.
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As Reuters' anonymous sources report, bidders with a valid bank charter will be given preference in the form of a preliminary review of the banks' financial performance.
There is a catch: only customers who refuse cryptocurrency transactions at the bank can qualify for Signature.
Representatives of the FDIC, SBV, and Signature declined to comment on this statement.
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