Wyoming Crypto Bank Seeks 10th Cir. Review in Fed Account Case

A Wyoming cryptocurrency custody bank asked the full US Court of Appeals for the Tenth Circuit to review a panel decision that allowed the Federal Reserve to block the bank from accessing its payment systems.

The appellate panel’s split decision in October invaded states’ “core regulatory prerogatives” by giving the Fed the authority to deny “master accounts” to state-chartered banks and block the banks’ access to federal payment services, Custodia Bank said in a petition for rehearing filed Monday in the US Court of Appeals for the Tenth Circuit. A master account at the Fed gives banks access to the ...