Custodia ruling seen as a "speed bump," TD Cowen says it does not hinder crypto banks from applying for master accounts
ChainCatcher news, according to The Block, the U.S. Tenth Circuit Court of Appeals has upheld the ruling that Custodia is not entitled to obtain a Federal Reserve master account. TD Cowen analysts stated that this result is a "speed bump rather than a roadblock," and that in the future, it is still possible for crypto banks to access the central bank payment system through a "slimmed-down version of the master account."
Currently, several institutions including an exchange, Ripple, and Circle are also seeking national trust bank licenses.
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