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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.
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
