DOJ was probing Signature Bank's work with crypto clients ahead of collapse - report

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• Department of Justice investigators were reportedly investigating Signature Bank's (NASDAQ:SBNY) work with cryptocurrency-related firms before the bank was shut down by regulators.
• Investigators were looking into whether the lender took adequate steps to identify potential money laundering by its clients, Bloomberg reported citing unnamed sources.
• The Securities and Exchange Commission was also looking into the matter, the report added.
• Signature (SBNY) has not been accused of wrongdoing yet, and the investigation could be closed without further action.
• However, it remains unclear when the investigation began and if it had any effect on regulators' move to shutter the failed bank on Sunday.
• Earlier, the Federal Reserve is said to be evaluating tougher rules for midsize banks.