BNY Mellon’s Crypto Move Doesn’t Show Favoritism, Fed Says


By Emilie Ruscoe (October 20, 2022, 9:50 PM EDT) — The Federal Reserve Board of Governors has defended its move to allow investment bank BNY Mellon to begin holding and transferring digital assets on behalf of customers, pushing back on criticism raised by the crypto-focused Custodia Bank in its lawsuit against the Fed seeking a so-called master account with the central bank….

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