PANews reported on November 26 that Custodia Bank, a Wyoming financial institution providing banking services for crypto companies, announced that its board voted last week to further reduce operations and "retain" capital in response to the "significant" reforms in cryptocurrency policy from the new government in Washington, D.C.
Custodia Bank pointed out that by taking this action before the expected shift in U.S. cryptocurrency policy, Custodia still "retains" its banking charter, API-based real-time payments, Bitcoin custody platform, bank-issued stablecoin patents, and its "compliance" and operational record. Custodia Bank founder and CEO Caitlin Long stated that she is very satisfied with the Custodia team, the services they create for clients, and their resilience during the "innocent encounters of repeated service withdrawal from banks."
Latest news indicates that the oral arguments for Custodia's lawsuit against the Federal Reserve are "scheduled for January 21, 2025."