The U.S. court upheld the Federal Reserve's decision and rejected the request for a rehearing on the application for a master account by the crypto bank Custodia

By: rootdata|2026/03/15 08:42:00

According to The Block, the U.S. Court of Appeals for the Tenth Circuit voted 7 to 3 to reject Custodia Bank's request for an en banc review, upholding the panel's ruling from October 2025, which stated that the Federal Reserve has the authority to approve or deny master account applications from qualified institutions.

Notably, just a few days ago, the Kansas City Fed granted Kraken the first limited cryptocurrency master account, while the Federal Reserve is also developing a broader "streamlined master account" framework. Custodia is a special purpose depository institution chartered in Wyoming, founded by Wall Street veteran Caitlin Long. The company first applied for a master account in October 2020. The Kansas City Federal Reserve Bank confirmed in early 2021 that there were "no significant issues" with the application, but ultimately denied the application in January 2023 due to concerns about the bank's focus on a cryptocurrency business model. Custodia filed a lawsuit in June 2022, initially regarding a 19-month approval delay, and later argued that the Currency Control Act grants any qualified depository institution the right to obtain a master account by law. Courts at all levels have dismissed this lawsuit.

-- Price

AI has become critical infrastructure, and governments and corporations are competing to control it. Centralized development and regulation are entrenching existing power structures. The Web3 community is building a decentralized alternative — distributed compute, token incentives, and community governance — before that window closes.

Vitalik wrote a proposal teaching you how to secretly use AI large models

Vitalik believes that in the AI era, users should not have to give up their identity to use an AI tool.

On the eve of the explosion of on-chain options

Options are becoming a new anchor in the cryptocurrency market.

WEEX AI Hackathon: How Did This AI Trading Winner Succeed?

A self-taught AI trading enthusiast achieved top-10 results at the WEEX AI Hackathon. Learn about the mindset, AI tools, and lessons behind this impressive performance.

One Balance to Rule Them All: Gravitas' On-Chain Prime Broker Ambition

Forty years ago, a technological revolution broke the isolation of information, reshaping Wall Street. Forty years later, Grvt aims to break the isolation of capital with an on-chain prime brokerage model.

That person who cashed out at the NFT peak is now selling a new shovel in the OpenClaw craze

A skilled person never picks the table, they eat meat with every bite.

Inter-generational Prisoner's Dilemma Resolution: The Nomadic Capital and Bitcoin's Inevitable Path

When the Baby Boomer generation collectively sells off, who will be the "bag holder" in the next asset crash?

Upstream and downstream are starting to fight, all for the sake of everyone being able to "Lobster"

「Lobster」 may not be a mature product yet, but it has already ushered in a new era of 「AI Assistants」.

Circle and Mastercard Announce Partnership, the Next Stage for the Crypto Industry Belongs to Payments

Stablecoins are transitioning from a speculative tool to real financial scenarios such as payments, cross-border transfers, and store of value.

From 5 Mao per kWh of Chinese electricity to a $45 API export: Tokens are rewriting currency units

When the same unit can both measure hashing power and facilitate payments, it ceases to be just a term and begins to evolve into a new currency of both value and influence.