Former U.S. Solicitor General Claims Federal Efforts to Marginalize Crypto Banking in Court Appeal

Donald Verrilli, former U.S. Solicitor General from 2011 to 2016, has asserted in an appellate brief that the digital asset industry is being targeted by federal regulators through systematic efforts to restrict their banking access. On July 3, representing the Blockchain Association, Verrilli filed an amicus brief with the U.S. Tenth Circuit Court of Appeals in support of Custodia Bank’s appeal. This follows a district court ruling in March which upheld the Federal Reserve’s decision to deny the bank a master account. Custodia Bank had initially applied for a master account in October 2020. After facing prolonged delays, the bank

Source: CryptoIntelligence