Crypto bank Custodia files petition for rehearing in the appellate court regarding lawsuit against the Federal Reserve

Odaily Planet Daily News reports that in the legal dispute with the Federal Reserve, Custodia Bank has filed a petition for rehearing before the full panel of the US Court of Appeals for the Tenth Circuit. The bank argues that the Federal Reserve’s refusal to establish a primary account undermines the authority of state banks and raises constitutional issues. Custodia Bank requests the court to reconsider its October ruling, which supported the Federal Reserve’s refusal to allow the bank to use core central bank payment services. This battle has become a precedent for cryptocurrency banks accessing the US payment system. (CoinDesk)