Blockchain Association has filed an amicus brief supporting Custodia Bank’s petition to the U.S. Supreme Court, urging the court to review whether regional Federal Reserve Banks can deny master accounts to eligible state-chartered banks. According to ChainCatcher, the group said lower court rulings backing the Fed would give the central bank broad power to cut off banking services for industries or companies it does not approve of and effectively decide which state-chartered banks can operate.

The Kansas City Fed was also granted an extension to Sept. 11 to respond to Custodia’s petition.