Custodia Bank Appeals to Full Court in Landmark Crypto Banking Case Against Fed

Custodia Bank, a Wyoming-chartered special purpose depository institution, has filed a petition for a rehearing *en banc* (by all judges) in its pivotal lawsuit against the Federal Reserve. The move comes after a three-judge panel of the Tenth Circuit Court of Appeals ruled against Custodia's bid to gain access to a Federal Reserve master account. Custodia, founded by crypto advocate Caitlin Long, argues that the Fed's denial of its application was unlawful and that the panel's decision conflicts with established legal precedents. This legal battle is closely watched as a test case for the integration of crypto-focused financial institutions into the traditional banking system. A successful *en banc* rehearing could set a significant precedent for other state-chartered crypto banks seeking Fed services.