Federal Reserve Proposes Payment Account That Could Open Fed Rails to Crypto Firms
BeInCrypto
The Federal Reserve has proposed a specialized payment account to provide non-bank financial institutions, including crypto firms, access to its settlement infrastructure.Summary
The Federal Reserve has initiated a 60-day public comment period on a proposal to create a "payment account" for non-bank financial institutions. This account type provides a restricted, safer alternative to a traditional master account, excluding features like intraday credit or interest on balances. The initiative, which aligns with recent executive orders from the Trump administration, aims to provide a more viable route for digital asset companies like Ripple and Anchorage Digital to access federal payment rails while maintaining strict anti-illicit finance controls.
(Source：BeInCrypto)