BlockchainAssn Supports Custodia's Supreme Court Review of Federal Reserve Master Account Access
Prefer us on GoogleBlockchainAssn has submitted an amicus curiae brief in support of Custodia Bank's petition to the U.S. Supreme Court, urging the Court to review whether regional Federal Reserve Banks have the authority to deny access to master accounts for qualified state-chartered banks. The organization warns that lower court support for the Federal Reserve's ruling grants the central bank broad powers that could disqualify unrecognized industries or companies from obtaining banking services and dictate which state-chartered banks are allowed to operate. The Kansas City Federal Reserve Bank has been granted an extension until September 11 to respond to Custodia's petition.
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