Fed teases master accounts for crypto banks: Law Decoded, Aug. 15-22
The new guidelines from the Federal Reserve hold a prospect of “the most stringent review” for non-federally insured institutions. Last week, the United States Federal Reserve Board turned its eye to banks and crypto, making (or promising to make) several clarifications, one of them pretty long-awaited. It announced that the final version of guidelines for reserve banks to access Reserve Bank master accounts and services is ready. For crypto, these guidelines hold a prospect of “the most stringent review,” to which non-federally insured institutions that do not have a holding company....
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A long‑running dispute between the US banking sector and the crypto industry is widening, with tensions now extending beyond stablecoin yields to a new regulatory flashpoint: “skinny” Federal Reserve (Fed) master accounts. According to a report published Monday by Crypto In America, the disagreement is emerging as another obstacle in an already strained relationship between […]
Determining the future of who can and cannot custody crypto and how much you need to know about them remains a central topic of discussion. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.Editor’s noteLast week’s Law Decoded sounded the alarm on threats to self-custodial wallets in the U.S. in particular. While such concerns have continued to take shape, nothing concrete has emerged from the U.S. Treasury, which was at the heart of last week’s conversation.Though I don’t like to recycle themes, it seems a reasonable....
Crypto analyst Master Kenobi has provided an update on his FLOKI master plan. The analyst revealed that his initial analysis had been invalidated and mentioned what was next for the Shiba Inu competitor with this development. FLOKI Master Plan Invalidated But Might Be A Good Thing Master Kenobi revealed in an X post that the […]
Popular cryptocurrency exchange BTC-e announced via their website this week that they are now offering traders their new PAMM service, a first in the sector. PAMM - or Percent Allocation Management Module - will allow BTC-e investors to follow the trading strategies (using a slave account) of both professional and experienced traders (a master account). Over the past several years PAMM technology has been extensively used by traders in the currency exchange markets. It is a proven and effective instrument for money management, investments and strategy copying. BTC-e is the first....
Crypto bank Custodia has lost another legal battle in its campaign to review the Federal Reserve’s position as the final authority over granting master accounts. This development comes after the US Court of Appeals for the Tenth Circuit rejected the Caitlin Long-led digital bank’s request for rehearing after an initial favorable ruling for the Federal […]