🚀 Custodia Bank Seeks Full Review of Federal Reserve Account Decision
#CustodiaBank #FederalReserve #CryptoBank #MonetaryControlAct #BankingRegulation #Wyoming #ConstitutionalIssues #CourtReview #TenthCircuit #BANK
According to PANews, Wyoming-based crypto bank Custodia Bank has filed a petition for an en banc review. This request asks the entire panel of judges from the Tenth Circuit Court of Appeals, rather than just the original three-judge panel, to reconsider its October ruling. The previous decision upheld the Federal Reserve's denial of Custodia Bank's application to open a master account.
The petition argues that the original panel misinterpreted the Monetary Control Act, which stipulates that any eligible bank has the right to open a master account. Custodia Bank contends that the panel's decision undermines state banking regulatory authority and raises significant constitutional issues.#CustodiaBank #FederalReserve #CryptoBank #MonetaryControlAct #BankingRegulation #Wyoming #ConstitutionalIssues #CourtReview #TenthCircuit #BANK