The Blockchain Association wants the Supreme Court to hear Custodia’s case for direct Fed access.
Custodia, a crypto-focused bank, applied in 2020. The Kansas City Fed denied it in 2023. An appeals court upheld that decision, giving the Fed broad power to block crypto banks.
This is more than one bank. The industry sees "Operation Choke Point 2.0" at work: regulators discouraging banks from serving crypto. Kraken Financial got Fedwire access. Custodia’s denial by the same Fed branch shows inconsistency. The path to traditional banking for crypto is unclear. It likely depends on which specific bank you are.
Do federal regulators truly welcome crypto? $BTC
Custodia, a crypto-focused bank, applied in 2020. The Kansas City Fed denied it in 2023. An appeals court upheld that decision, giving the Fed broad power to block crypto banks.
This is more than one bank. The industry sees "Operation Choke Point 2.0" at work: regulators discouraging banks from serving crypto. Kraken Financial got Fedwire access. Custodia’s denial by the same Fed branch shows inconsistency. The path to traditional banking for crypto is unclear. It likely depends on which specific bank you are.
Do federal regulators truly welcome crypto? $BTC