News

An agricultural bank in Wyoming has incurred a cease-and-desist order from the Office of the Comptroller of the Currency, or OCC, after the institution's delve into virtual assets raised its exposure to illicit finance. In September 2022, Nexo, a global platform where clients can borrow, store and earn interest on cryptocurrency, acquired an undisclosed stake in Hulett Bancorp, the parent company of Summit National Bank in the 323-person town of Hulett, Wyoming, that also has a branch in Ekalaka, Montana, which counts 397 residents, and another in Salmon, Idaho, with a population of 3,300. Nexo, which is legally registered in...