Caitlin Long, CEO of Custodia Bank, has strongly criticized the Federal Reserve’s stance on stablecoins, arguing that it favors large banks over innovative crypto firms. This policy, according to Long, hinders stablecoin innovation and creates an uneven playing field for fintech companies like Custodia. She emphasizes that the Fed’s restriction on issuing stablecoins on open networks like Ethereum and Bitcoin limits financial inclusion and provides a regulatory advantage to established institutions. Long’s comments come amidst growing frustration within the crypto community over this restrictive policy, which has been enacted despite calls for more transparent and inclusive regulations.