Custodia’s lawsuit against Fed over master account denial can proceed, court rules

Custodia’s challenge to the Federal Reserve Bank of Kansas City’s decision to deny the crypto-friendly bank access to Fed banking services can continue, a US district court ruled Thursday, blocking a Fed motion to dismiss the case. Rejected. The US District Court in Wyoming, however, rejected Custodia’s request to compel the Fed to grant it a so-called master account and membership with the Fed, instead allowing Custodia to continue its claims through normal channels. should keep.