United Texas Bank, based in Dallas, has been issued a cease-and-desist order by the U.S. Federal Reserve due to significant deficiencies in its risk management and compliance with anti-money laundering (AML) laws. The enforcement action is linked to the bank's dealings with virtual currency customers, foreign correspondent banking, and crypto firms. The order mandates the bank to strengthen its AML measures and improve its governance and risk management practices. The deficiencies were found during an examination by the Federal Reserve and the Texas Department of Banking, and are related to potential sanctions violations.