A U.S. appeals court has upheld a previous decision, voting 7–3 to reject Custodia Bank's request to reopen its case against the Federal Reserve regarding a master account. According to NS3.AI, this decision maintains the October ruling that allows Federal Reserve banks to determine the granting of such accounts. A master account provides banks with direct access to the Federal Reserve payment system. This ruling represents a significant setback for crypto-focused banks aiming for direct access to U.S. banking infrastructure.