Custodia Bank Challenges Fed's Master Account Denial
Update: 2025-12-16
Description
Custodia Bank, a digital asset-focused financial institution, has filed a new petition with the US Court of Appeals for the Tenth Circuit, seeking a review of the Federal Reserves denial of its master account application. This account would enable Custodia to directly process payments and access the central banks systems, currently denied due to the banks focus on digital assets. The bank argues that the Monetary Control Act entitles any eligible bank to a master account, and that denying it undermines state banking authority. The outcome of this petition could significantly impact digital asset banks operations and interactions with the traditional financial system in the US.
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