Custodia Bank asks Supreme Court to review Fed master account decision

4 min read

Custodia Bank, a Wyoming digital asset bank founded in 2020 as Avanti, filed a petition asking the Supreme Court to review a March Tenth Circuit decision that favored the Federal Reserve. The bank has pursued a five-year legal fight after the Federal Reserve Bank of Kansas City denied it a master account in January 2023; district and appeals courts ruled the Fed acted within statutory authority. Custodia argues the case raises constitutional and appointment-structure questions, citing recent Trump v. Cook and Trump v. Slaughter decisions, and says the denial was tied to its cryptocurrency business, making the petition potentially consequential for central bank governance and crypto banking.

Custodia asked the Supreme Court to review the Fed master-account denial