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<ul class="news-points">
 <li>A judge in the U.S. ruled against Custodia Bank in its lawsuit against the Federal Reserve.</li>
 <li>Custodia Bank filed against the Fed after the latter denied its application for a master account.</li>
 <li>The judge ruled that Custodia failed to challenge a final agency action, as required under the APA (Claim I).</li>
</ul>
A judge in the U.S. District Court of the District of Wyoming <a href="https://storage.courtlistener.com/recap/gov.uscourts.wyd.61107/gov.uscourts.wyd.61107.317.0.pdf" target="_blank" rel="noopener noreferrer nofollow">ruled</a> against Custodia Bank in its lawsuit against the Federal Reserve. The bank had filed to challenge the denial of its application for a master account by the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City (FRBKC).
In Friday’s ruling, Chief Judge Scott Skavdahl of the U.S. District Court for the District of Wyoming ruled in favor of the board. The board had argued that it had the power under law to deny the application over questions about how Custodia Bank would operate while providing custodial services for digital assets.
In addition, the Judge denied claims by Custodia Bank that the Fed did not follow appropriate administrative procedures.
Reacting to the Judges decision, Nathan Millar, Custodia Bank spokesperson, noted it has always been an uphill battle to…
The post <a href="https://coinedition.com/u-s-judge-upholds-the-feds-action-to-deny-custodia-bank-master-account/" rel="noopener noreferrer nofollow">U.S. Judge Upholds The Fed’s Action to Deny Custodia Bank Master Account</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

U.S. Judge Upholds The Fed’s Action to Deny Custodia Bank Master Account

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