Cryptocurrency bank Custodia submits a petition for rehearing to the appeals court regarding its lawsuit against the Federal Reserve

Custodia Bank has submitted a petition for en banc rehearing to the U.S. Court of Appeals for the Tenth Circuit regarding its legal dispute with the Federal Reserve. The bank argues that the Federal Reserve's refusal to establish a master account undermines the authority of state banks and raises constitutional issues. Custodia Bank requests the court to reconsider its October ruling, which supported the Federal Reserve's denial of the bank's access to core central bank payment services, a struggle that has become a precedent for cryptocurrency banks seeking access to the U.S. payment system.