The legal battle heats up in the Fed vs. Custodia Bank as Wyoming swoops in to defend its state-chartered crypto bank framework.
and its Kansas City arm in June 2020 for delays in approving the bank’s application for a master account, which facilitates an institution’s ability to make international transfers as well as other functions. In January 2023, the Fed officially, saying it was “inconsistent with the required factors under the law.”
“The [report] the Kansas City Fed provided Custodia makes clear that its view of perceived inadequacies in Wyoming’s laws and regulations for SPDIs is partially responsible for its denial,” said the court filing. “The State of Wyoming believes that this changes the tenor of the suit and in turn questions the legitimacy and viability of the State’s statutory framework.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Wyoming Defends ‘Legitimacy’ of Its Crypto Charter Framework in Custodia LawsuitWyoming’s attorney general is looking to get involved in custodiabank’s suit against the Fed partly to defend against “perceived inadequacies in Wyoming’s laws and regulations” for state-chartered banks. cheyenneligon reports
Weiterlesen »
Fed instant payment system is not a central bank digital currencySocial media posts including a widely shared tweet from Robert F. Kennedy Jr. claim the US Federal Reserve is launching a central bank digital currency allowing it to monitor and restrict people's financial transactions. This is false; an instant payment service called 'FedNow' is unrelated to a separate digital dollar plan, which is being studied, the Fed and independent experts said.
Weiterlesen »
Fed Williams doesn't think bank failures will be 'big negative' for the U.S. economyThe recent bank failures in the United States won't be such a 'big negative' on the U.S. economic outlook, said New York Fed President John Williams on Tuesday.
Weiterlesen »
Chicago Fed's Goolsbee preaches caution on interest rate hikes amid bank sector concernsThe new head of the Chicago Federal Reserve said the Fed needs "to be cautious" about further increases in interest rates in light of recent bank...
Weiterlesen »
CarMax says tighter lending hits its car sales due to Fed rate hikes and bank jittersCar loans are not only more expensive now, but they're harder to get as lenders get pickier.
Weiterlesen »
USDC supply stabilizes following Silicon Valley Bank bank woesAfter a wave of redemptions following the collapse of Silicon Valley Bank, the supply of stablecoin USDC on Ethereum has stabilized.
Weiterlesen »