Fed Opens Skinny Master Account Rulemaking for Crypto, Fintech Firms, Urges Tier 3 Pause
The Federal Reserve has issued a request for comment and proposed rulemaking on payment accounts known as “skinny master accounts,” a step that could allow eligible fintech and crypto firms to access the Fed’s payment system for clearing and settlement directly rather than through a traditional bank. The Fed also encouraged Reserve Banks to pause decisions on new Tier 3 master-account requests until no later than December 2026 while the framework is finalized, a category that covers most crypto firms.
The move marks the next formal step in Governor Waller’s payment-account implementation process after a public comment period on the initial proposal closed in February. It follows President Donald Trump’s May 19 executive order giving the Fed 120 days to evaluate whether it can legally grant crypto and fintech firms direct access to Federal Reserve payment accounts.
From the sources (15 posts)
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@coinmarketcapLATEST: 🇺🇸 Trump signed an executive order giving the Fed 120 days to evaluate whether it can legally grant crypto and fintech firms direct access to Federal Reserve payment accounts.
@eleanorterrett🚨JUST IN: The @federalreserve has issued a request for comment and notices of proposed rulemaking for payment accounts, also known as the “skinny master accounts” that would allow eligible fintech and crypto firms to gain access to the Fed’
@tftc21The Federal Reserve issued a proposed rulemaking on "skinny master accounts" that would allow eligible fintech and crypto firms to access the Fed's payment system directly for clearing and settlement without going through a traditional bank
@cointelegraph🇺🇸 JUST IN: The Fed has issued a request for comment on a proposed rulemaking for "skinny master accounts" that could allow eligible fintech and crypto firms access to its payments system.
@wublockchainFed Proposes “Skinny Master Accounts” for Crypto and Fintech Firms According to crypto journalist Eleanor Terrett, the Federal Reserve has proposed a “skinny master account” framework that could allow eligible crypto and fintech firms to a