In the past year, the Board of Governors of the Federal Reserve System (the Board) Biden administration officials, and other U.S. banking regulators have repeatedly voiced growing.
The last few years had started to see a convergence between crypto and banking, with bitcoin appearing to rapidly grow mainstream. That momentum hit a wall with the spectacular crypto.
Custodia Bank was denied Federal Reserve membership, while certain crypto principal activities are deemed presumptively not appropriate for member banks. On January 27,.
On January 27, 2023, the Board of Governors of the Federal Reserve System ("Federal Reserve") issued a policy statement regarding the permissible activities of state-chartered banks that are members of the Federal Reserve System ("Crypto Policy").