Schiff has said several times over that he has a buyer for Euro Pacific International Bank Inc., but that a provisional cease-and-desist order from regulators stands in his way to selling the bank, according to Bloomberg.

Back in November, the bank had submitted a plan for Emergent Technology & Payments to acquire all of the bank's shares. The Puerto Rico Office of the Commissioner of Financial Institutions, or OCIF weighed the financials of Austrian payment processor Qenta Payment CEE, which Emergent also purchased earlier in the year. 

Emergent agreed to buy the bank despite a widely publicized global tax-evasion investigation that has been taking place since 2020. Emergent would have put in $7 million to help recapitalize the bank. Schiff maintains that the investigation turned up nothing.