Biden’s Crypto Crackdown Hits Custodia Bank: Workforce Reductions Announced

Quick Summary:

In response to the Biden administration’s intensified scrutiny on the crypto industry, Custodia Bank, a notable Wyoming-based financial institution catering to crypto businesses, has recently undergone a significant restructuring.

Without this account, banks like crypto-friendly Custodia are compelled to engage in transactions through intermediary institutions, incurring elevated costs in the process.

In addition, the absence of definitive statements from Vice President Harris regarding her stance on digital assets has left industry participants speculating about her potential influence on the administration’s crypto-related policies.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: Hungary

Topics: Custodia Bank Crypto News Crypto regulation DeFi Cryptocurrency Biden crypto policy Biden Crypto Crypto news Biden administration Crypto Cryptocurrencies

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-30 @ 07:00:49 (2 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 453 words

Reading Time: 3 minutes read

Sentences: 28 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22305855

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 3 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 13 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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