Taurus4BTC on Nostr: A traditional bank got denied after 5 years. A crypto exchange got approved in days. ...
A traditional bank got denied after 5 years. A crypto exchange got approved in days. The Fed just showed its discretion in real time.
Custodia Bank's final appeal for a Federal Reserve master account was rejected by the 10th Circuit Court. This ends their five-year legal battle. Custodia first applied in October 2020. A master account provides direct access to Fed reserves and payment rails without intermediary banks.
Kraken became the first crypto platform to receive a Federal Reserve master account on March 4, 2026. That is just nine days earlier. Kraken is a national bank, Wyoming-chartered. They can now connect to Fedwire.
Custodia is also a Wyoming-chartered state bank. They were denied. Dissenting Judge Timothy Tymkovich called denial of a master account akin to a death sentence for a bank.
The contrast shows Fed discretion in action. Same state. Similar charters. Different outcomes. The Fed decides who gets to play.
Published at
2026-03-14 09:30:37 UTCEvent JSON
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"content": "A traditional bank got denied after 5 years. A crypto exchange got approved in days. The Fed just showed its discretion in real time.\n\nCustodia Bank's final appeal for a Federal Reserve master account was rejected by the 10th Circuit Court. This ends their five-year legal battle. Custodia first applied in October 2020. A master account provides direct access to Fed reserves and payment rails without intermediary banks.\n\nKraken became the first crypto platform to receive a Federal Reserve master account on March 4, 2026. That is just nine days earlier. Kraken is a national bank, Wyoming-chartered. They can now connect to Fedwire.\n\nCustodia is also a Wyoming-chartered state bank. They were denied. Dissenting Judge Timothy Tymkovich called denial of a master account akin to a death sentence for a bank.\n\nThe contrast shows Fed discretion in action. Same state. Similar charters. Different outcomes. The Fed decides who gets to play.\nhttps://blossom.primal.net/dc0fdf774462ac927f4368fe83d83fb8ca4d55f3b94ceb4b44604a0eef2aa485.png",
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