Virtual asset service provider sues Fed

Crypto firm wants “master account” but critics warn of regulatory problems

crypto-coins

A US cryptocurrency provider is suing the Federal Reserve, complaining that regulators are unlawfully stalling its application for a master account.

Custodia Bank filed suit against the Federal Reserve Board and the Federal Reserve Bank of Kansas City in Wyoming, where it is based. Custodia claims that the agencies have engaged in “wholly unlawful delaying conduct” and “standardless processes” in handling its application.

Having a master account would allow Custodia to convert cryptocurrencies

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.