Custodia Bank has sued the FED for “unlawfully” delaying decisions for Crypto banks. As they take over 19 months for a One-Year decision.

Custodia Bank is a US based crypto bank, meaning that it provides services for Crypto customers much like banks but an extra focus on security. 19 months (!) ago the bank had applied to the FED to grant them the approval for a master account for Crypto. A decision that has to take one-year, has now taken 19 months.

That's why they have begun to sue the FED on unlawfully delaying the applications for Crypto banks and discrimination towards crypto banks. As there is actually a one-year deadline for such decisions that they overrode by 7 months. Even seven US lawmarkers have come in their support.

Obviously you can see that the FED, just like the SEC, is not giving crypto services their lawful approvals and delaying for no reasons.