According to ChainCatcher, the U.S. Federal Reserve recently announced that it has again rejected the application of crypto bank Custodia for Fed regulation after rejecting the application last month.
The Federal Reserve Board voted against reconsidering Custodia's application, according to a press release. According to the voting list, the decision is consistent with last month's rejection of Custodia's application to become a member of the Federal Reserve System. In its initial rejection, the Fed said that Custodia's business model "poses significant safety and soundness risks" and claimed that Custodia did not have an adequate risk management framework. (Source link)
