Following a court ruling, Custodia Bank has lost its claim to a Fed master account. Here are the details.

Quick Summary:

A United States judge has ruled against Custodia Bank’s claim to membership and a master account with the Federal Reserve.

The digital asset bank had initially sued the Fed in 2022 for delaying a decision on whether or not to grant the bank a master account.

According to the court filing, the Fed retains the discretion in granting or denying requests for master accounts.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets: HungaryUnited States

Topics: Crypto News Digital Assets Crypto Custodia Federal Reserve Fed

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-03-30 @ 14:00:55 (1 months ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 413 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 20554764

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About Bitcoinist

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Official Website: bitcoinist.com

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News Last Updated: 8 hours ago

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