Crypto Update | Banking Industry Shakeup: Crypto Ties, Acquisitions, Detentions and Regulatory Jurisdiction
Markets Outlook
00:00
The Fed's Denied Custodia Banks Application for Membership
The United States Federal Reserve released an 86 page report detailing the reasons why they've denied custodia banks application for membership back in July. According to the report, the Fed's board has raised concerns about banks with business plans focused on narrow sectors of the economy. The final wording of the law is still yet to be negotiated between the Parliament and the Council mediated by the European Commission. Coin desks Jack Schickler has more on this one.
Play episode from 08:34
Transcript
