The Federal Reserve updates streamlined master account proposal, clarifying plans for crypto firms to access payment channels
Odaily reported that the U.S. Federal Reserve Board has released an updated, streamlined master account proposal, further detailing plans to provide payment channel access to fintech and crypto companies. This update amends the request for information first published in December 2025, envisioning that relevant companies can access payment channels without needing to become Office of the Comptroller of the Currency chartered banks. In the same week, U.S. President Donald Trump signed two executive orders: one requires federal regulators to review existing policies to better incorporate digital assets into payment systems; the other instructs the U.S. Treasury Department and regulatory agencies to strengthen rules related to the Bank Secrecy Act. The executive orders also require the Federal Reserve to review access arrangements for non-depository institutions and their payment accounts, and direct Federal Reserve member banks to assess whether they can independently provide payment accounts to such entities. Previously, the U.S. Senate Banking Committee voted to advance the Clarity Act. The Senate then entered the Memorial Day recess without voting on the reconciliation bill, which includes funding for the Department of Homeland Security.
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