Custodia Weighs Next Legal Steps After Appeals Court Defeat

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Following the appellate court’s ruling, Custodia Bank said it is “actively considering” petitioning for a rehearing.

“While we were hoping for a win at the Tenth Circuit today, we received the next big thing — a strong dissent,” the bank said on X, noting the dissent raised “serious Constitutional questions” about the Federal Reserve’s authority.

Founded in Wyoming as Avanti before rebranding in 2022, Custodia was among the first “blockchain banks” approved under the state’s digital asset framework. The company has yet to confirm its next legal move.