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Custodia Bank shouldn't back down. KC Fed was wrong to arbitrarily and capriciously reject their Master Account due to dislike of crypto. Judge then did a complete 180 on prior decision. Raises major questions about legality of Fed and potential political pressure from @ewarren… https://t.co/Mn1VDtAw4t
Custodia Bank Loses Lawsuit Challenging Fed Rejection of Master Account https://t.co/mrxGDIYgwD via @coindesk | This is not a surprise. Why does any #crypto org think Fed will say yes? Crypto is not even as asset under Basel III. Do we recall the 1250% risk weight #BIS??
The Federal Reserve Bank of Kansas City defeated a suit brought by crypto-focused Custodia Bank over its battle for a so-called master account. https://t.co/v5NjBRfhTb
Custodia Bank's attempt to secure a Federal Reserve master account and membership with the Fed was rejected by a federal judge. The court favored the Federal Reserve in the case, denying Custodia Bank's appeal for review. The lawsuit challenging the Fed's rejection of the master account application was unsuccessful.