Custodia CEO Accuses Federal Reserve of Favoring Large Banks in Stablecoin Regulation
Custodia Bank CEO Caitlin Long alleges the US Federal Reserve is enacting policies that favor big banks in the stablecoin market, despite claims of easing crypto regulations. She criticized the Fed for rescinding some restrictive crypto policies while maintaining a rule from January 2023 that restricts banks from directly interacting with digital assets. This, according to Long, creates an uneven playing field that benefits established financial institutions over newer crypto-focused entities.