Crypto Bank Custodia Urges Supreme Court to End ‘Tyranny’ of Federal Reserve

Custodia Bank has filed a reply brief urging the U.S. Supreme Court to review a 10th Circuit decision that allowed regional Federal Reserve banks to deny master accounts to eligible institutions. Crypto-focused Custodia Bank has issued a renewed plea to the U.S. Supreme Court to take up its battle against the Federal Reserve, per a report from Law360 , arguing that only the high court can “put an end to the Fed’s tyranny over financial innovation.” In a reply brief filed in support of its petition for a writ of certiorari, the bank asked the justices to review a decision from the 10th U.S. Circuit Court of Appeals. The appellate ruling upheld the Federal Reserve System’s discretion to deny master accounts to otherwise statutorily eligible depository institutions.

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