Custodia – DIGIT INFO

Former US solicitor general claims regulators want to ‘debank’ crypto

DIGIT — Fri, 05 Jul 2024 21:03:44 +0000

Several parties have filed amicus briefs with the appellate court in support of Custodia Bank receiving approval for a master account from the Federal Reserve.

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Court Dismisses Custodia Bank’s Challenge Against Federal Reserve

DIGIT — Sun, 31 Mar 2024 21:21:27 +0000

In a significant ruling, a federal judge has dismissed Custodia Bank Inc.’s claim for entitlement to a Federal Reserve master account, marking a setback for the Wyoming-based depository institution. Custodia Bank argued that the Federal Reserve Bank of Kansas City (FRBKC) was legally obliged to grant its application for a master account, a critical financial […]

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A Look at the Fed’s Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking

DIGIT — Mon, 27 Mar 2023 04:30:19 +0000

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 deposited by customers. Although there […]

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Custodia CEO Slams US Government Over Broad Crackdown, Lack of Regulatory Clarity in Crypto Industry

DIGIT — Sat, 18 Feb 2023 15:30:40 +0000

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 of the Federal Reserve System, […]

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Crypto Bank Custodia Denied Membership in US Federal Reserve System

DIGIT — Sun, 29 Jan 2023 11:30:45 +0000

The U.S. Federal Reserve Board has rejected the attempt of Custodia Bank to become member of the Federal Reserve System. According to the decision announced Friday, the application submitted by the digital asset bank is inconsistent with legal requirements. Federal Reserve Board Says Business Model Proposed by Custodia Bank Presents Risks Crypto bank Custodia has […]

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US Federal Reserve Board Unveils Final Guidelines Used When Reviewing Requests for Access to Master Accounts

DIGIT — Thu, 18 Aug 2022 07:00:16 +0000

The U.S. Federal Reserve Board has said it has released the final guidelines which are set to be used by Reserve Banks when “reviewing requests to access Federal Reserve accounts and payment services.” According to the board, the final guidelines will become effective as soon as they are published in the Federal Register. New Guidelines […]

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Crypto bank Custodia sues the Fed over 19 month delay on account approval

DIGIT — Wed, 08 Jun 2022 01:50:40 +0000

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.

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