PANews reported on November 26 that according to crowdfundinsider, Custodia Bank, a Wyoming financial institution that provides banking services to crypto companies, announced that its board of directors voted last week to further reduce operations and "retain" capital in response to the new Washington, DC government's "significant" reforms to crypto policies.
Custodia Bank noted that by taking this move ahead of the expected shift in U.S. crypto policy, Custodia still "retains" its banking charter, API-based real-time payments and Bitcoin custody platform, bank-issued stablecoin patents, and its "compliance" and operational record. Caitlin Long, founder and CEO of Custodia Bank, said she was very pleased with the Custodia team, the services they built for their customers, and their resilience in the face of "innocent repeated revocation of banking services."
The latest news states that oral arguments in Custodia’s lawsuit against the Federal Reserve are “scheduled for January 21, 2025.”
