Decision Reached in Custodia Bank Case
March 30, 2024
According to a judicial decision, the Federal Reserve is not required to provide Custodia, a bank dealing with digital assets, access to the reserve account, as the Fed has discretion over who gets a master account. This decision came as a blow to the crypto sector once again, as a master account would enable direct access to the U.S. money supply. Those without a master account must rely on partner banks with master accounts to provide services, which is currently one of the most significant issues for cryptocurrency trading providers.
