Blockchain Association Backs Custodia in Fed Master Account Battle

The Blockchain Association has filed an amicus brief in support of Custodia Bank's Supreme Court case against the Federal Reserve.

Custodia, a Wyoming-based bank focused on crypto-linked business models, was rejected by the Kansas City Fed for its application to open a master account in January 2023.

The association argued that no legal industry should be excluded from essential banking services through regulatory pressure or unchecked administrative discretion.

They claimed that this case is about whether digital asset companies can compete on a level playing field in the banking sector.