Master Account

Blockchain As

2026-08-12 21:47:32

Blockchain Association Files Amicus Brief Supporting Custodia Bank in Supreme Court Master Account Review

The Blockchain Association, a crypto industry group, has submitted an amicus brief in support of Custodia Bank's application to the U.S. Supreme Court. The filing urges the high court to examine whether regional Federal Reserve banks have the discretion to refuse a qualifying state-chartered bank access to a master account. In its brief, the association warns that the lower court's ruling in favor of the Federal Reserve gives the central bank broad authority to strip banking services from industries or companies it does not recognize, and to effectively veto which state-chartered banks are permitted to operate. The warning highlights the group's concern that the central bank could decide who is allowed to participate in the banking system. Separately, the Kansas City Federal Reserve, the regional reserve bank involved in the case, has been granted an extension, with its response to Custodia's application now due on September 11. The news was relayed by a Fox Business crypto reporter on X, according to Odaily.

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Anchorage Dig

2026-07-30 00:36:04

Anchorage Digital says proposed Fed payment account cannot replace a master account

Anchorage Digital said a payment account proposed by the U.S. Federal Reserve would not serve as a workable substitute for a traditional master account. In a comment letter, the crypto bank backed the Fed’s effort to modernize access to the payment system, but argued that the proposed structure falls short in several areas that matter for daily settlement and liquidity management. According to Anchorage, the account would not include access to FedACH, would impose overnight balance limits, would not provide intraday liquidity, and would not pay interest on reserve balances. The company said those features make it materially different from the master accounts that member national banks have held for more than a century. Anchorage also said the lack of FedACH access would leave it reliant on intermediaries for routine payment settlement. The firm added that any slimmed-down master account should include interest on reserves. The debate follows a proposal raised last year by Federal Reserve Governor Christopher J. Waller, who introduced the concept of a “slim master account.”

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Custodia Bank

2026-07-22 19:10:13

Custodia Bank Loses Final Appeal Over Federal Reserve Master Account

The U.S. Tenth Circuit rejected Custodia's rehearing request, upholding the Fed's discretion on master account access. The 7–3 vote ends the Wyoming crypto bank's legal challenge.

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crypto regula

2026-07-22 16:35:13

White House Steps Into Crypto-Bank Rift Over Fed’s ‘Skinny’ Master Accounts

The White House hosted crypto firms and major banks Tuesday to defuse tensions over stablecoin yield and the Fed's proposed 'skinny' master accounts. Crypto supporters cheered the plan; banks cited regulatory gaps. Fed guidance expected in Q4.

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Trump

2026-07-22 11:32:14

Trump Orders Fed to Review Crypto Master Account Access; Kraken's Limited Approval Sets Precedent

Trump executive order directs Federal Reserve to evaluate extending master accounts to crypto and fintech firms, following Kraken's limited approval; banking groups raise concerns.

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Custodia Bank

2026-07-12 04:34:08

Custodia asks U.S. Supreme Court to review Fed master account dispute

Custodia Bank has petitioned the U.S. Supreme Court for review in its long-running fight over access to a Federal Reserve master account. The filing asks the court to determine whether the head of a regional Federal Reserve bank has the authority to deny master account services to an institution. Custodia had applied multiple times for a Fed master account and was denied in 2023. The Federal Reserve said the bank’s novel business model and its planned focus on crypto assets posed significant safety and soundness risks. After that decision, Custodia appealed to the U.S. Court of Appeals for the Tenth Circuit, which sided with the Federal Reserve Bank of Kansas City in 2024. The Supreme Court is expected to decide in October whether it will take up the case. The update was cited by Odaily, which referenced Bitcoin.com News as the source.

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Custodia Bank

2026-07-12 04:34:50

Custodia Bank asks U.S. Supreme Court to review Fed master account dispute

Custodia Bank has petitioned the U.S. Supreme Court for review in its dispute over access to a Federal Reserve master account. The bank is asking the court to determine whether the president of a regional Federal Reserve Bank has the authority to deny master account services to an institution. Custodia had applied for a Fed master account multiple times and was denied in 2023. The Federal Reserve said the bank’s novel business model and its planned focus on crypto assets posed significant safety and soundness risks. After that decision, Custodia appealed to the U.S. Court of Appeals for the Tenth Circuit. In 2024, the Tenth Circuit sided with the Federal Reserve Bank of Kansas City. Custodia has now taken the matter to the nation’s highest court, where the filing seeks a review of the legal authority behind the denial. The U.S. Supreme Court is expected to decide in October whether it will hear the case. The dispute has drawn attention because it centers on access to core Federal Reserve payment infrastructure and how that access is handled for institutions with crypto-related business plans.

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Kraken

2026-07-04 02:00:14

What Kraken’s IPO Pause and Fed Master Account Mean for the Crypto Industry

Kraken has reportedly put its initial public offering plans on hold as weaker crypto prices and softer trading volumes make public listings less attractive for digital asset firms. Its parent company, Payward, confidentially filed a draft S-1 with the U.S. Securities and Exchange Commission in November 2025, at a reported $20 billion valuation, following an $800 million fundraising round that included a $200 million investment from Citadel Securities. The decision to delay does not appear to signal a permanent cancellation, but rather a tactical pause until market conditions improve. The broader IPO backdrop helps explain the move. Last year, at least 11 crypto companies, including Circle, Bullish, and Gemini, raised a combined $14.6 billion through public market activity. In contrast, only BitGo has gone public so far in 2026, and its shares have fallen 45%, underscoring the risks facing new issuers in a weaker market. At the same time, Kraken achieved a major regulatory and infrastructure milestone by securing a master account with the Federal Reserve Bank of Kansas City. The approval gives Kraken Financial direct access to Fed payment systems such as Fedwire, allowing it to settle dollar transactions without relying on intermediary banks. While the account does not include full banking privileges like interest on reserves or access to Fed lending facilities, it is widely seen as a breakthrough for crypto-native firms seeking closer integration with traditional financial rails.

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