The Federal Reserve Board has denied digital asset bank Custodia Bank’s application. The Fed said in a Friday (Jan. 27) press release that the Wyoming-based digital asset bank’s submitted application to become a member of the Federal Reserve System was inconsistent with factors required under the law. It noted that...
The Federal Reserve has opened a path for crypto banks and stablecoin issuers to gain access to master accounts that would bring access to the global payments system. On Tuesday (Aug. 16), the Fed’s Board of Governors voted unanimously to create a three-tiered review system...
This week in TechREG U.S., cryptocurrency regulation has dominated the space. Lawmakers have discussed the role of cryptos in ransomware attacks and how to tackle this rising threat. The Department of Justice (DOJ) published a report in response to President Joe Biden’s executive order, urging...
No one will be shocked to hear that Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam was unstinting in his praise of a Senate bill that would give his agency a great deal of control over cryptocurrencies. That long-awaited and bipartisan bill, the Responsible Financial...
January 27, 2023
The Federal Reserve Board has denied digital asset bank Custodia Bank’s application. The Fed said in a Friday (Jan. 27) press release that the Wyoming-based digital asset bank’s submitted application to become a member of the Federal Reserve System was inconsistent with factors required under the law. It noted that Custodia Bank does not have federal deposit insurance and proposed […]
