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AP National News

Wyoming crypto bank’s Federal Reserve application denied

By MEAD GRUVER Associated Press CHEYENNE, Wyo. (AP) — The Federal Reserve Board has denied a Wyoming cryptocurrency bank’s application for Federal Reserve System membership. The decision deals a setback to the crypto industry’s attempts to build acceptance in mainstream U.S. banking. Many in crypto were looking to Cheyenne-based Custodia Bank’s application as a bellwether.

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