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0.000243664717348937 0.000203053931124037 0 -0.000609161793372343 -0.000156351526965558 -0.000243664717348937 -0.000568551007147558 -0.000568551007147558
Stock impact report

Fed moves closer to 'skinny' payment accounts for crypto banks [Yahoo! Finance]

Coinbase Global, Inc. - Class A (COIN) 
US:NASDAQ Investor Relations: convertedorganic.com
Company Research Source: Yahoo! Finance
This is a crucial banking tool long sought by crypto-focused financial institutions. The central bank announced on Dec. 19 that it will seek public comment on the plan over the next 45 days. Related: All big banks will be crypto trading soon: Former Citigroup CEO In October, Fed Governor Christopher Waller floated the idea of a “skinny” master account tailored for innovation-focused banks. Known formally as master accounts, these accounts enable financial institutions to access the Fed's payment rails and operate nationally. Without one, banks are confined to state-level activity and must rely on intermediaries for clearing and settlements. The new initiative, now referred to as a “payment account,” aims to balance innovation and risk management. “These new payment accounts would support innovation while keeping the payments system safe,” Waller said in a statement. “ This request for information is a key first step to ensuring that the Fed is responsive to evolutions in Show less Read more
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