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Custodia Bank’s membership denied for ties with crypto markets, says US Fed By Cointelegraph

Custodia Bank’s membership denied for ties with crypto markets, says US Fed By Cointelegraph




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 According to the report, the Fed board raised “concerns about banks whose business plans focus on a narrow sector of the economy”, with a high concentration of industry-related activities. of cryptography. The report notes: