In brief
- The Federal Reserve is seeking public comment on a new, limited “payment account” for crypto and innovation-focused banks.
- The accounts would allow access to Fed payment rails, but not interest, credit, or full master-account privileges.
- The plan is spearheaded by Fed Governor Christopher Waller, a top candidate to replace outgoing Fed chair Jerome Powell.
The Federal Reserve is moving forward with an initiative to offer a more attainable version of its coveted master accounts for crypto banks—and is now asking for public comment on the plan.
In October, Fed Governor Christopher J. Waller first floated the idea of a “skinny” master account for innovation-focused banks. Master accounts are required to operate a bank…
Dec 19 2025
