Custodia Bank took a step forward in its legal battle against the Federal Reserve, as a Wyoming federal judge denied dismissal motions from both the Fed and the Federal Reserve Bank of Kansas City.
The digital asset bank sued the Federal Reserve in June 2022, claiming an “unlawful delay” in processing an application for its master account. In 2020, Caitlin Long, a former executive at Morgan Stanley (NYSE:) and an early proponent of , founded the bank to provide account services for crypto companies and serve as a bridge to the United States dollar.
