Blockchain Association backs Custodia's Supreme Court bid over Fed master account access
Quick TakeThe Blockchain Association filed an amicus brief on Wednesday in support of Custodia Bank‘s Supreme Court petition challenging the Fed’s denial of master account access.The industry group said the case is about ensuring “lawful digital asset businesses can compete on equal footing.” The Blockchain Association has filed an amicus brief in support of Custodia Banks Supreme Court petition challenging the Feds denial of master account access. In a Wednesday filing, the industry group urged the court to review whether regional Fed banks have the discretion to reject eligible state-approved banks access to master accounts. A Fed master account could give financial institutions direct access to the central banks payment systems, which is key infrastructure for banks serving digital asset clients. “No lawful industry should be excluded from essential banking services through regulatory pressure or unchecked administrative discretion,” the association wrote in a thread of posts on X, adding that the case is about ensuring “lawful digital asset businesses can compete on equal footing.” In its amicus brief, the association also cautioned that prior lower courts rulings provide “a blueprint for federal regulators to debank disfavored industries or companies in the future without interference from state regulators.” Years-long legal battle Custodia Bank, a Wyoming-chartered crypto-focused institution founded