In brief
- The Blockchain Association filed an amicus brief supporting Custodia Bank’s petition for Supreme Court review.
- Custodia is challenging a ruling that upheld the Fed’s denial of its master account application.
- The group says the case could shape how much power federal regulators have over state-chartered banks.
The Blockchain Association is urging the Supreme Court to take up Custodia Bank’s fight with the Federal Reserve, arguing the central bank should not have the broad power to deny payment system access to eligible state-chartered banks.
In the amicus brief filed on Wednesday supporting Custodia’s petition, the crypto trade group said a lower court ruling in favor of the Fed gives federal regulators a quiet way to cut…
