⚖️ BREAKING: Custodia Bank Files Rare "En Banc" Appeal Against Fed
Custodia Bank is taking an extraordinary legal step. After a 2-1 court loss in October, the crypto-focused bank is asking all 19 judges of the 10th Circuit Court to rehear its case against the Federal Reserve.
The Stakes: A Federal Reserve "master account"—the key to direct access to national payment systems. Without it, Custodia argues the bank is sentenced to death.
The Conflict: A panel previously ruled the Fed has discretion to deny accounts to institutions it deems a risk. Custodia contends this raises major questions about federal overreach and states' rights (it holds a Wyoming charter).
Why It Matters: This is a high-stakes test for all crypto-native banks seeking legitimacy. A rare en banc review could reshape the regulatory landscape.
