Fed Proposes ‘Skinny’ Accounts, Calls for Tier 3 Pause
The US Federal Reserve has proposed limited payment accounts for fintech and crypto-linked firms while pausing Tier 3 access decisions until late 2026.Summary
The US Federal Reserve is proposing the creation of limited-purpose payment accounts, often referred to as "skinny master accounts," for eligible fintech and cryptocurrency-linked institutions. These accounts would facilitate clearing and settlement services without granting access to traditional central banking tools like the discount window or interest-bearing reserves. Simultaneously, the Fed has instituted a temporary pause on Tier 3 account-access requests, which is expected to remain in effect until December 31, 2026. This regulatory move reflects an effort to balance the mandates of President Donald Trump’s executive order, which encourages broader digital asset integration, with the Fed’s cautious approach toward systemic risk and oversight in the financial system.
(Source：Cointelegraph)