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Fed’s ’Skinny Master Accounts’ Proposal Sparks Tension Between Crypto and Traditional Banks
Fed’s ’Skinny Master Accounts’ Proposal Sparks Tension Between Crypto and Traditional Banks
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BTCCSquare news:
The Federal Reserve's plan to introduce limited master accounts for fintech and crypto firms has ignited a regulatory battle with traditional banks. Dubbed 'skinny master accounts,' these restricted versions WOULD grant access to the Fed's payment system while withholding interest earnings and liquidity services available to full master account holders.
Federal Reserve Governor Christopher Waller confirmed the initiative would launch by year-end, despite stalled cryptocurrency legislation and market turbulence. The MOVE signals growing institutional recognition of digital asset firms while maintaining cautious oversight—a delicate balance as policymakers navigate crypto's integration into mainstream finance.
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