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If your blood pressure doesn’t increase after listening to this, you might be dead! Especially, if you are a crypto founder. @Unchained_pod Fed’s rejection of @custodiabank (bank regulated by and operating in WY): https://t.co/ln2qek9NV2 Wow!! I’m glad we are being more vocal…
If @CaitlinLong_ is holding judgement, that holds a lot of weight… Approval of Custodia banks Fed charter is a key “acid test” issue which could undo most of Chokepoint, so her perspective is critical. https://t.co/RVHCeLqsck
.@CaitlinLong_ + @laurashin inevitably fantastic but even more so in this episode: Custodia Bank's unfair treatment & delay & unprecedented (& from what I gather rather spurious) denial are all together shocking and should truly be a scandal https://t.co/gaQW0Myho2
Custodia Bank is currently engaged in a legal battle with the Federal Reserve, which has denied its application for a banking charter. The denial has raised concerns about potential political motivations, particularly connections to Senator Elizabeth Warren. Caitlin Long, a prominent figure in the cryptocurrency space, has highlighted that at least one New York bank has been approved by the Fed to provide digital asset custody and has received an exemption from the SEC regarding SAB 121. Long's insights suggest that the treatment of Custodia Bank may be unprecedented and indicative of broader issues within the regulatory landscape for digital assets. The approval of Custodia's charter is viewed as a critical issue that could significantly impact the ongoing regulatory framework, often referred to as 'Chokepoint.'