Court rejects Custodia Bank’s appeal in fight over Federal Reserve master account
Crypto Briefing
The 10th Circuit Court of Appeals upheld the Federal Reserve's authority in denying Custodia Bank a master account.Summary
The 10th Circuit Court of Appeals ruled in favor of the Federal Reserve in its legal dispute with Custodia Bank, a Wyoming-based digital asset bank. This decision affirms the Federal Reserve's discretion in granting master accounts, which provide direct access to the central banking system’s payment services. Custodia Bank, which seeks to operate as a Special Purpose Depository Institution (SPDI) focusing on digital assets, has been fighting for integration into traditional banking infrastructure. The ruling reinforces the Fed's authority over which institutions qualify for this direct central bank access.
(Source：Crypto Briefing)