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Custodia Bank's plea for a Federal Reserve master account was rejected by the US courts, leading to a loss in the lawsuit challenging the Fed's decision. The courts upheld the denial, impacting Custodia Bank's operations and positioning in the digital asset industry.
Custodia Bank Loses Lawsuit Challenging Fed Rejection of Master Account Application https://t.co/AcOazo9zW0 via @coindesk
Custodia Bank Denied Federal Reserve Master Account by US Court "Without a master account, if Custodia is able to operate at all, it is a second-class citizen, relegated to dependency on and fealty to an intermediary bank.” https://t.co/UrOYtqy0Tf
Federal Reserve Bank of KC’s denial of @custodiabank master account application - and courts upholding that capricious decision - undermines the credibility of the institution. An un-American continuation of @ewarren’s pet “Operation Choke Point.” I know @CaitlinLong_ and great…
