Custodia Bank petitioned the United States Supreme Court seeking to overturn the Federal Reserve decision

According to Bitcoin.com news, Custodia Bank filed an application for review with the United States Supreme Court to confirm whether the Governor of the Regional Federal Reserve Bank had the right to refuse the Agency. In 2023, the Federal Reserve rejected the application of Custodia Bank for the main account on the grounds that its new business model and its proposed focus on encryption assets had significant security and robustness risks. The United States Court of Appeals for the Tenth Circuit supported the Kansas City Federal Reserve Bank in 2024, and the United States Supreme Court will decide whether to take up the case in October。