Caitlin Long, founder of Wyoming-based Custodia Bank, reacted to BNY Mellon’s offering of crypto custody services.
Founder of Custodia Bank Caitlin Long, BNY Mellon‘Fame Ethereum (ETH) and bitcoin (BTC) It reacted to getting approval to launch a digital custody platform for its holdings. Thanks to this approval, Long is against the bank that is authorized to store private keys and bookkeeping services. positive discrimination claimed to have done. Approval was announced on October 11 and Mellon Bank The “first US bank” to offer custody services in cryptocurrencies as well was introduced as
In order to obtain the same approval of Custodia Bank, the Founder waiting for more than 24 months He made a comparison between the actions and policies of the Federal Reserve (FED).
Last week, the Federal Reserve told a judge that custody of digital assets like Bitcoin poses a ‘new, precedent-setting risk’. This week, the Fed let BNY Mellon do the same. The Fed has one rule for innovators like Custodia Bank and another for the country’s oldest bank. We’ve been waiting for this for two and a half years, and look at what the Fed did today versus what they said last week. We want nothing but fair and equal treatment.
The Fed has stated that main-accounting banks that provide custody services for digital assets pose a risk to the global financial system and therefore to fully consider their application. it needs additional time argued. In August, the Fed released its final guidance for master account access, which includes multiple tiers of access.