Custodia Bank has filed for a full review in the Tenth Circuit Court of Appeals regarding the Federal Reserve's denial of its master account.

This article is machine translated
Show original
According to crypto journalist Eleanor Terret, Wyoming-based crypto bank Custodia Bank has filed an en banc (en-banc) petition with the Tenth Circuit Court of Appeals, requesting a full panel of judges, rather than the previous three-judge panel, to reconsider its October ruling that upheld the Federal Reserve's refusal to grant Custodia a master account. Custodia argues in its petition that the original ruling misinterpreted the Money Control Act, which should grant eligible banks the right to master accounts, weakens state-level banking regulatory power, and raises serious constitutional issues.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
77
Add to Favorites
17
Comments