Custodia, a Wyoming-based aspiring crypto bank, filed a notice of appeal against a court ruling that affirmed the Federal Reserve’s rejection of its bid for a master account and membership.
Custodia Bank Loses Lawsuit Challenging Fed Rejection of Master Account Application
A federal judge ruled that Custodia Bank, a Wyoming special-purpose depository institution, isn’t entitled to membership in the Federal Reserve or to a Fed master account.
Operation Choke Point 2.0 Is SEC’s ‘Chemotherapy’ for $14B Ponzi Problem, BCB’s CEO Says
What happened to Custodia Bank is “tragic” under current administration’s efforts to de-bank crypto industry, BCB’s Oliver von Landsberg-Sadie said.
Federal Reserve Says Custodia’s Crypto-Focused Business Model Is ‘Inconsistent’ With Approval
The Federal Reserve Board argued that Custodia Bank’s proposed business model was “inconsistent” with approval in an order explaining its denial of the Wyoming-based crypto bank’s application for membership.
What Now for Crypto Banking?
Regulators are leery of traditional banks offering services to crypto companies, and wary of specialist crypto banks, like Custodia, with new business models. Frances Coppola asks: Where do we go from here?
Crypto Bank Custodia’s Bid for Fed Supervision Rejected Again
The Federal Reserve Board announced Thursday it had again rejected crypto bank Custodia’s bid for Fed supervision.
Custodia Bank Renews Push for Fed ‘Master Account’ After Rejection
Custodia Bank filed an amended complaint against the Federal Reserve Friday, weeks after the Fed rejected its effort to secure a “master account” and become a member of the Federal Reserve System.
Crypto’s Banking Problem: Industry Needs Access but US Regulators Keep Digital Assets at Bay
Crypto can’t become what many of its proponents want it to be without banks, but U.S. regulators are circling the wagons around the banking system they oversee. That barrier is only getting wider as the Federal Reserve and other agencies turn away crypto firms trying to link with the traditional financial system.
Crypto bank Custodia sues the Fed over 19 month delay on account approval
Custodia wants to compel the Federal Reserve Board and its Kansas City branch to approve its application for a Fed master account within 30 days.