encryption-friendly bank Custodia Bank has decided to reduce its operations in response to the encryption policy reform of the new US government

PANews November 26th news, according to crowdfundinsider report, Custodia Bank, a Financial Institution in Wyoming that provides banking services to encryption companies, announced that its board voted last week to further reduce operations and “retain” capital to deal with the “significant” reforms in encryption policies by the new government in Washington, D.C. Custodia Bank pointed out that by taking this measure before the expected change in encryption policy in the United States, Custodia still ‘retains’ its banking charter, API-based real-time payments, BTC custody platform, bank issuance of Stable Coin patents, as well as its ‘Compliance’ and operational records. Caitlin Long, Founder and CEO of Custodia Bank, expressed her satisfaction with the Custodia team, the services they have built for their clients, and their resilience in the face of ‘repeated revocation of banking services’ when innocent. The latest news states that the oral argument for Custodia’s lawsuit against the Federal Reserve is “scheduled to be held on January 21, 2025”.