Fed Denies Custodia Bank's Master Account, Boosts Kraken
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Custodia Banks Bid for Fed Access Denied: A Setback for Crypto Banks
In a significant ruling, the Tenth Circuit Court has upheld the Federal Reserves authority to decide on master accounts, effectively ending Custodia Banks five-year legal battle for direct access. The courts decision, supported by multiple rulings, underscores the Feds full discretion in this matter. Meanwhile, crypto exchange Kraken has secured a limited master account, offering hope for similar access to other crypto firms. This development highlights the ongoing tensions between regulators and digital asset players, with traditional banks maintaining a stronger position.
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