Crypto bank Custodia sues the Fed over 19 month delay on account approval

2022.06.08 17:56

Crypto bank Custodia sues the Fed over 19 month delay on account approval

Wyoming based digital asset bank Custodia is suing the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City, claiming an “unlawful delay” in processing an application for its master account.

Custodia, formerly known as Avanti was one of the first Special Purpose Depository Institutions (SPDIs) also known as “blockchain banks” made under a Wyoming regulatory framework.

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