Digital Asset Bank Custodia Files Lawsuit in U.S. Court Over BNY Mellon’s Crypto Approval

“Last week, the Federal Reserve told a federal judge that keeping custody of digital assets, like Bitcoin, posed a ‘novel, precedent-setting risk.’ This week, the Fed allowed BNY Mellon to do the exact same thing. So it has one rule for innovators like Custodia Bank, and another for the nation’s oldest bank,” said Nathan Miller, a spokesperson for Custodia Bank, in an email to CoinDesk. “After waiting more than 24 months, we are seeking nothing more than fair and equal treatment.”