Trade group backs Custodia appeal over Fed account access
The Blockchain Association has filed a friend-of-the-court brief supporting Custodia Bank's Supreme Court petition that challenges regional Reserve banks' discretion to deny master accounts. Custodia applied in October 2020 after obtaining a Wyoming special purpose depository license, saw a rejection from the Kansas City Fed in January 2023, and lost in district and appellate courts through March 2026. The dispute gained new relevance after Kraken Financial received a restricted master account in March 2026, and the Kansas City Fed must file its response by September 11, 2026, potentially affecting future access rules.
Supreme Court review could limit regional Fed discretion over master accounts
Context
Custodia applied for a Federal Reserve master account in October 2020 and faced long delays. The Kansas City Fed rejected the application in January 2023 and courts upheld that rejection. The Supreme Court may now decide whether regional…
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