Blockchain Association filed an amicus brief August 12 supporting Custodia Bank’s petition asking the U.S. Supreme Court to review its dispute over Federal Reserve master-account access. The group argues that the Tenth Circuit gave the Fed too much discretion over access to critical payment infrastructure, creating consequences beyond Custodia itself.
The association contends that eligible state-chartered banks should have access to Fed payment services and says master accounts are essential for electronic settlement, Fedwire and FedNow. It also argues that allowing the Fed broad denial authority could give federal regulators effective veto power over state-approved banking models, including institutions serving digital-asset companies.
Blockchain Association also argues that the Fed’s proposed alternative “payment accounts” would not adequately replace full master-account access. The brief asks the Supreme Court to grant Custodia’s petition for certiorari, making whether the justices agree to hear the case the immediate legal checkpoint. A grant would begin Supreme Court review, not decide Custodia’s claims.
Source: Blockchain Association.
Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.
This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions.
