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Crypto Bank Custodia Denied Membership in US Federal Reserve System


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...

Custodia Bank Denied Federal Reserve System Membership


The Federal Reserve Board has denied Custodia Bank’s application for membership, claiming the crypto-focused institution’s “novel business model and proposed focus on crypto-assets presented significant safety and soundness risks.”

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