The Federal Reserve revokes the 2023 guidance restricting uninsured banks from participating in crypto businesses

PANews, December 18 — According to crypto journalist Eleanor Terrett, the Federal Reserve has decided to rescind a guidance issued in 2023 that effectively prevented uninsured banks from becoming Federal Reserve members and engaging in crypto-related activities. This guidance was the basis for the Federal Reserve's rejection of Custodia Bank's application for a master account.