Nevada has suspended the operations of Fortress Trust, a cryptocurrency custodian firm. The state’s action comes amid increasing regulatory scrutiny of the cryptocurrency sector. Fortress Trust has been under examination due to concerns regarding its compliance with state regulations and the overall safety of its services. The suspension reflects broader efforts to ensure that cryptocurrency companies adhere to legal standards and protect consumers. The decision is part of a trend where state authorities are taking a closer look at the practices of digital asset firms.
