Feds Require Customers Bancorp to Provide 30 Days' Notice Before Entering into Any New Banking Relationships with Crypto Firms
According to the contents of a 13-page enforcement action filed by the Federal Reserve against Customers Bancorp, the agency is requiring Customers Bancorp to give 30 days' notice before entering into any new banking relationships with crypto firms, a move that has sparked discontent in the crypto community.Gemini co-founder Tyler Winklevoss said that Customers Bancorp is one of the few cryptocurrency-friendly banks in the U.S. The Federal Reserve is now controlling cryptocurrency companies' access to banking services, essentially deciding who can and cannot open a bank account, thus limiting crypto banks' ability to operate.
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