Kansas City Fed Stalls Crypto Decision

Tech money has declined sharply over the past year and, more importantly, locals have always been hesitant to try new things and very picky about how they're going to lose their money -- oversized SUVs and greasy food are favored over far more ethereal schemes. 

Accordingly . . .

Here's a peek at Midwestern caution despite a great deal of Internets hype . . . 

The Kansas City Fed has yet to make a decision on Custodia's application either way. Custodia filed a lawsuit against the Fed in June over the delay.

The intrigue: Earlier this week, the U.S.'s oldest bank BNY Mellon — a bank whose founders include Alexander Hamilton — said it will start custodial services for bitcoin and ether.

    In response, Custodia CEO Caitlin Long delivered withering remarks during a fintech conference about the Federal Reserve's differing stance on crypto for new banks and old ones.

Read more via www.TonysKansasCity.com link . . .

Crypto bank ratchets up battle with Kansas City Fed

A crypto bank has been waiting a very long time for a stamp of approval from the Kansas City Fed - so long in fact, that the nation's oldest traditional bank caught up on crypto in that time.