Blockchain Association Files Amicus Brief Supporting Custodia Bank's Supreme Court Push for Fed Master Account
A major crypto industry group has backed Custodia Bank's bid to bring its Federal Reserve master account dispute before the Supreme Court. The case centers on whether digital asset businesses can access the same banking infrastructure as traditional financial institutions. A ruling in Custodia's favor could have broad implications for crypto firms seeking direct Fed access.
A prominent blockchain industry association has filed an amicus brief supporting Custodia Bank's petition for Supreme Court review of its long-running dispute with the Federal Reserve over access to a master account. The group framed the case as a matter of competitive fairness, arguing that lawful digital asset businesses should be able to compete on equal footing with traditional financial firms.
Custodia, a Wyoming-chartered special purpose depository institution, has sought a Fed master account for years. Such accounts allow institutions to hold reserves directly at the central bank and access payment rails without relying on intermediary banks. The Fed's refusal to grant Custodia access has been a flashpoint in the broader debate over whether regulators are applying neutral standards to crypto-focused financial institutions.
The Supreme Court has not yet agreed to hear the case. If it does, a ruling could set a precedent affecting how digital asset banks across the country are treated by the Federal Reserve system. The outcome would be relevant to any XRP-focused or broader crypto banking operation seeking direct central bank access in the United States.
Key facts
- •A crypto industry association filed an amicus brief backing Custodia Bank's Supreme Court petition
- •The case concerns Custodia's application for a Federal Reserve master account
- •The industry group cited equal competitive footing for lawful digital asset businesses as the core issue
- •Custodia is a Wyoming special purpose depository institution
- •The Supreme Court has not yet agreed to hear the case
- •A ruling could set precedent for how crypto banks access Federal Reserve payment infrastructure