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0 sats \ 1 reply \ @Bell_curve 9 Jul \ parent \ on: The Federal Reserve, Custodia Bank, and the battle for Constitution sovereignty bitcoin
That's good news regarding the statute
They should marshal their best arguments
In rejecting their application, the Fed cited the lack of FDIC. Why not buy FDIC to improve your odds?
The Fed is being disingenuous with the FDIC statements. There are at least 400 banks without FDIC insurance, and FDIC insurance is also entirely unnecessary for a fully reserved bank. The FDIC protects against bank runs in a fractional system, and a fully reserved bank cannot be run, by definition.
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