Cryptocurrency Analysis and News Portal
Custodia Bank won a step forward in its legal battle against the Federal Reserve, as a Wyoming federal judge denied dismissal motions from both the Fed and the Federal Reserve Bank of Kansas City.The digital asset bank sued the Federal Reserve in June 2022, claiming an “unlawful delay” in processing
Read More
The U.S. state of Wyoming has requested to intervene in the case between Custodia Bank and the Federal Reserve System, seeking to defend its framework allowing certain crypto firms to qualify as state-chartered banks.In an April 10 court filing, Wyoming Attorney General Bridget Hill filed a motion to “intervene in
Read More
“Although an adverse determination against Custodia on the merits of Custodia’s application and unique situation may not prejudice the State, the Defendants’ apparent determination that Wyoming’s SPDI statutes and regulations, and SPDI banks themselves, are deficient will,” Hill’s report argued. Source
Read More
Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of Wyoming, a financial institution that holds $1.08 for every dollar
Read More
The United States Federal Reserve released an 86-page report on March 24 detailing the reasons for denying Custodia Bank's application for membership in January, including the bank's involvement in the crypto space. According to the report, the Fed's board has raised "concerns about banks with business plans focused on a narrow
Read More
The board of governors of the Federal Reserve System, better known as the Fed, has officially confirmed that they denied Custodia their application to be part of its network. The Fed is concerned about Custodia’s abilities In an updated statement on Mar. 24, the United States central bank said they were concerned about Custodia’s
Read More
The United States Federal Reserve has denied a request from cryptocurrency bank Custodia Bank to reconsider its membership application to the Federal Reserve System.The Fed announced its denial on Feb. 23 saying the Federal Reserve Board previously decided that Custodia’s application “was inconsistent with the required factors under the law.”@federalreserve
Read More
Custodia Bank’s CEO says crypto will find its way into the traditional banking system and regulators could be playing ‘whack-a-mole’ years down the road. Original Source
Read More
Caitlin Long, CEO of crypto bank Custodia, criticized the U.S. government for its handling of a massive crypto fraud that occurred months before the company’s collapse. She made her remarks in a blog post after disclosing evidence to law enforcement. Long’s post followed Custodia’s unsuccessful application to become a member
Read More
The CEO of Custodia Bank Caitlin Long has slammed regulators and lawmakers in Washington D.C. for their “misguided crackdown” on the crypto sector, and also for ignoring her warnings of major “fraud” allegedly conducted by now-bankrupted entities.In a Feb. 17 blog post titled “Shame On Washington, DC For Shooting A
Read More