Custodia Answers Fed at Supreme Court; Conference Nov. 13

Crypto bank Custodia filed its reply to the Federal Reserve's objections at the US Supreme Court on Oct. 28, 2026, asking the justices to hear its challenge over a denied master account. The case, No. 26⁠–⁠62, is distributed for the justices' Nov. 13 conference.

Details

Custodia, a Wyoming special purpose depository institution focused on digital assets, has been seeking a Fed master account since October 2020. A Wyoming federal court and the 10th Circuit sided with the Fed. According to the Supreme Court docket, the 10th Circuit ruled on Oct. 31, 2025 and denied rehearing on March 13, 2026.

Custodia filed its petition for certiorari on July 10. The Fed Board of Governors and the Federal Reserve Bank of Kansas City filed briefs in opposition on Oct. 13. As Bitcoin.com reports, the reply challenges the view that reserve banks may deny master accounts to eligible institutions at their discretion. The same report says former Sen. Pat Toomey and Sen. Cynthia Lummis backed Custodia in an amicus brief.

What this means for the market

A master account gives direct access to the Fed's payment system, which decides whether crypto banks can operate without intermediary banks. The Supreme Court takes only a small share of petitions, and on Nov. 13 it will only decide whether to hear the case. If it declines, the 10th Circuit ruling stands.

There is no direct effect on bitcoin's price; see live data in the daily brief. This is not investment advice.