Recent events at the US Federal Reserve signal acceptance of digital assets at the highest levels of the country’s monetary system. 

Kraken recently became the first crypto exchange to receive a master account at the Federal Reserve.

The Fed could also see a new crypto-friendly chair. US President Donald Trump on Wednesday submitted a pro-Bitcoin candidate for the Senate’s consideration.

These developments represent a significant shift in how the Fed could treat the crypto industry. But there are also detractors.

Why are Fed master accounts so important to the crypto industry?

On Wednesday, Kraken announced that its Wyoming-chartered bank, Kraken Financial, had been awarded a Fed master account. This made it “the first digital asset…