Federal Reserve proposes limited master accounts long pursued by crypto firms

The U.S. Federal Reserve has initiated a 60-day comment period on a proposal for limited payment accounts designed for non-bank financial institutions, including crypto firms. These accounts, often dubbed "skinny" accounts, aim to provide faster and cheaper payment settlement without granting the full benefits of traditional master accounts. Holders of these accounts will be subject to strict controls, such as no access to the discount window and no interest earnings, to prevent overdrafts. This proposal follows a broader push by the industry and a recent executive order by President Trump, while regional Fed banks have been instructed to pause individual application reviews while the final rules are being established.

(Source：CoinDesk)