Federal Reserve shuts down Farmington Bank over unapproved stablecoin project
The bank worked with Fluent Finance on its US+ stablecoin in 2022 but did not seek Fed approval before beginning the project.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Federal Reserve shuts down Farmington Bank over unapproved stablecoin project
The bank worked with Fluent Finance on its US+ stablecoin in 2022 but did not seek Fed approval before beginning the project.