Federal Reserve to roll out ‘skinny master accounts’ this year as broader crypto rules remain in limbo, Fed Gov. Waller says

Federal Reserve Governor Christopher Waller has announced that the central bank expects to roll out ‘skinny master accounts’ later this year, providing limited access to the Fed’s payment systems for certain non-traditional financial institutions. This move comes as comprehensive federal regulations for the cryptocurrency industry remain stalled in Congress. These specialized accounts are designed to offer a middle ground, allowing firms to process payments through the Fed without the full range of services or risks associated with traditional commercial bank accounts. Waller noted that while the Fed is moving forward with this initiative to modernize payment access, the continued lack of a clear regulatory framework for digital assets and stablecoins remains a significant hurdle for the broader financial sector. The ‘skinny’ accounts are seen as a way to manage risk while the legal status of crypto-focused firms remains in regulatory limbo.

Source: Federal Reserve to roll out ‘skinny master accounts’ this year as broader crypto rules remain in limbo, Fed Gov. Waller says