TD Bank, one of the largest financial institutions in the US, has come under intense crypto scrutiny after being hit with the largest penalty ever imposed under the Bank Secrecy Act (BSA). The $3.09 billion fine stems from allegations of failing to report suspicious activities, including significant cryptocurrency-related transactions. The US Department of Justice (DOJ) and the Financial Crimes Enforcement Network (FinCEN) revealed that TD Bank processed billions of dollars through questionable accounts, raising concerns over the bank’s compliance practices in dealing with digital assets. What Really Went Wrong? In…
