[Crypto Bank Custodia Bank Requests U.S. Supreme Court Review of Federal Reserve Account Rejection Case] According to Bloomberg, crypto bank Custodia Bank has filed a petition with the U.S. Supreme Court, requesting a review of its case regarding being 'illegally denied access to the Federal Reserve payment system.' Custodia applied for a master account with the Kansas City Fed in 2020, but the Federal Reserve rejected the application in 2023, citing its 'business model focused on crypto-asset-related activities.' Custodia filed a lawsuit, but the Tenth Circuit Court of Appeals upheld the Federal Reserve's decision. In its petition, Custodia stated that the case raises 'extremely important questions'—whether regional Federal Reserve banks can override state banking charter decisions by denying access to central bank payment services.