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

The US Federal Reserve launched an 86-page report on March 24 detailing the explanations for denying Custodia Financial institution’s utility for membership in January, together with the financial institution’s involvement within the crypto house.

In accordance to the report, the Fed’s board has raised “issues about banks with enterprise plans targeted on a slim sector of the economic system”, with a excessive focus of actions associated to the crypto trade. The report notes: