Custodia Bank Appeals Federal Reserve's Master Account Decision

Custodia Bank has officially filed an appeal after a U.S. District Court ruling denied it a master account with the Federal Reserve, marking a continued legal battle over access to central banking services.

• Custodia Bank, a digital asset bank based in Wyoming, is appealing a recent court decision that upheld the Federal Reserve's discretion to deny the bank a master account.
• The appeal was filed with the 10th Circuit Court of Appeals following a ruling by Judge Scott Skavdahl, who dismissed the bank’s claims against the Federal Reserve's decision-making process.
• This legal challenge is part of a broader dispute over the Federal Reserve's criteria for granting master accounts, which provide direct access to the U.S. financial system.
• Custodia's case highlights ongoing tensions between emerging financial entities and traditional regulatory frameworks.
• The bank has also objected to the Federal Reserve's request for over $25,000 in legal fees related to the lawsuit.

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