The 10th Circuit Court of Appeals on Friday denied Custodia a rehearing of its case against the Federal Reserve, which refused to give the crypto bank a master account.
The 7-3 split decision reinforces an October ruling by the court and leaves Custodia with few options to pursue the master account.
Custodia may petition the Supreme Court for certiorari. The Wyoming-based lender also may consider ...
Custodia’s loss at the 10th Circuit isn’t simply a setback; it’s a strategic intervention against a nascent trend in Fed policy – the deliberate creation of a bifurcated system with “skinny” master accounts and the continued assertion of unfettered discretion by Reserve Banks. The core issue isn't just access to Fed rails, it’s a fundamental challenge to the structural integrity of the US banking system. Tymkovich’s dissent isn’t merely legal technobabble; it’s a calculated move to expose a dang...