According to crypto journalist Eleanor Terrett, Wu Blockchain has learned that Wyoming-based crypto bank Custodia Bank has filed a petition with the U.S. Supreme Court, requesting a review of whether regional Federal Reserve Banks have the authority to deny eligible state-chartered banks the ability to open master accounts. Custodia argues that the Kansas City Fed's decision to reject its application shifts the balance of regulatory power between state and federal banking authorities and raises constitutional issues related to the appointment and powers of Federal Reserve Bank presidents. Previously, both the Wyoming District Court and the Tenth Circuit Court of Appeals sided with the Federal Reserve, stating that it has broad discretion to deny Custodia's request to open a master account. The Kansas City Fed stated that its 2023 decision to reject Custodia's application was primarily due to concerns over its crypto-focused business model. https://www.(wublock123.com)/news/custodia-bank-sues-fed-over-main-account-denial-64413