Custodia Bank denied membership by the Fed over crypto ties  

The Federal Reserve Board has denied the membership application of Custodia Bank, Inc., a state-chartered special-purpose depository institution focused on the crypto-asset sector. The board cited concerns about Custodia's managerial, financial, and corporate powers factors as reasons for the denial.

https://www.cryptopolitan.com/custodia-bank-denied-membership-by-the-fed-over-crypto-ties/