Court Denies Crypto Bank Custodia's Bid to Pry Master Account From Unwilling Fed

A federal appeals court in Denver poured cold water Friday on crypto bank Custodia’s attempts to force the Federal Reserve to grant it a coveted master account, siding with a lower court’s previous decision.  A panel of three judges affirmed that Custodia is not owed a master account just because it is technically eligible for one, and sided with the Federal Reserve’s arguments that the central bank has the right to deny such privileges in certain cases.  In the case of Custodia, the Fed’s Kansas City branc ...