Crypto Industry Cheers Fed’s Proposal to Ease Banking Barriers

[tradelikepro]

Crypto executives are welcoming the Federal Reserve’s plan to create “skinny master accounts” for fintech and payments firms.

Custodia Bank CEO Caitlin Long thanked Fed Governor Christopher Waller for “re-opening the access rules” that had previously blocked payments-only banks, calling it a reversal of the Fed’s earlier stance that such firms were “unsafe.”

The proposal follows years of frustration after multiple crypto-friendly banks were cut off from the financial system, a wave critics dubbed “Operation Chokepoint 2.0.”

[kelson10]

Relaxed banking barriers could invite mainstream participation from fintech and crypto firms.

[alex10]

This proposal could bridge the gap between traditional banks and digital asset ecosystems.