Court closes Custodia fight with Federal Reserve just as Fed opens master-account door

Just days after the Federal Reserve granted a limited master account to Kraken, crypto bank Custodia's years-long court battle with the Fed concludes in a loss. What to know : A federal court denied Custodia Bank's request to review the Federal Reserve's powers as the final word on so-called master accounts. The crypto bank's rejection, though, comes at a time when two separate avenues seem to be opening up for access to narrower master accounts. One of the regional Fed banks gave Kraken such access, and the national Fed board is working on a nationwide policy for something similar.