Blockchain Association Backs Custodia in Supreme Court Battle Against Fed

TLDR

• Blockchain Association backs Custodia’s Supreme Court challenge against the Fed.
• Custodia argues eligible state-chartered banks deserve Fed payment system access.
• Lower courts ruled regional Reserve Banks can reject master account applications.
• Kraken’s limited Fed access adds new pressure to the Custodia banking dispute.
• Kansas City Fed must respond to Custodia’s Supreme Court petition by Sept. 11.

The Blockchain Association has backed Custodia Bank as its Federal Reserve master account dispute reaches the Supreme Court. The group argues regional Reserve Banks should not freely reject eligible state-chartered banks seeking direct payment system access. The case could shape how digital asset banks connect with core United States financial infrastructure.

Blockchain Association Backs Custodia Supreme Court Petition

The Blockchain Association filed an amicus brief supporting Custodia’s petition for Supreme Court review. The filing challenges lower court rulings that gave regional Reserve Banks broad authority over master account applications. The group wants the justices to clarify limits on that discretion under federal banking law.

… Continue reading the full article at the original source below.