• Caitlin Long, the founder and CEO of Custodia Bank, revealed that she handed over evidence to law enforcement agencies in the US of probable crimes committed by a big crypto firm.
• Crypto regulation is not a partisan issue and fighting corruption should be done through legal channels.
• Despite crackdowns from regulators and agencies, cryptocurrencies won’t be “uninvented” and will continue to exist as “internet-native” money.
Caitlin Long Reveals Evidence of Crypto Fraud
Caitlin Long, the founder and CEO of Custodia Bank, in a Twitter thread on Feb. 17, revealed that she handed over evidence to law enforcement agencies in the United States of probable crimes committed by a big crypto firm and even warned regulators of the risks banks expressly serving the crypto industry were facing. Custodia Bank is based in Wyoming and specializes in providing custody services for commercial clients in the US since it launched in 2020.
Regulation Is Not A Partisan Issue
With insider information and evidence of what big crypto firms were doing, breaking the law, and inconveniencing millions of customers who still can’t access their funds, Caitlin claimed she came out to reveal the rot even before the bank run and liquidity crisis of the end of last year started. Specifically, she points out corruption at policy-making level noting that stamping corruption out of crypto is not a partisan issue but instead letting law adapt with time. Furthermore, Custodia Bank was denied required licenses for federal regulation because its „novel business model“ posed significant safety risks according to Federal Reserve Board’s statement from late January 2023.
Crypto Won’t Be Uninvented
Despite attempts from regulators and agencies across world trying to intervene as per law requirements to protect investors, Caitlin says cryptocurrencies won’t be „uninvented“ regardless of opposition. Instead they will continue existing as internet-native money steadily replacing banks in remittance as time progresses.
Custodia Bank’s Services
Custodia Bank offers crypto asset payment while also offering custody services for commercial clients in The United States along with other banking services such as loans, deposits etc.. All these services are provided under state regulations with an aim to make transactions easier while ensuring customer satisfaction at same time through secure digital operations thus making it one stop shop for all your financial needs related to cryptocurrency investments or payments .
Conclusion
Overall this article talks about how despite regulatory interventions from authorities across world against cryptocurrencies; they remain unaffected with their steady growth towards replacing traditional banking systems for remittances especially where custodial services are concerned due to their secure digital operations which satisfy customers helping them trust digital payments more than ever before .
