The US Federal Reserve Board introduced that it had rejected a second bid by Wyoming crypto agency Custodia to turn into a Federal Reserve member financial institution.
In a short assertion issued on February 23, the Fed mentioned the “utility as submitted was inconsistent with the required elements underneath the regulation”.
The board had beforehand denied Custodia’s utility for membership final month, saying its “novel enterprise mannequin and proposed concentrate on crypto property offered vital security and soundness dangers”
