Kraken Becomes First Crypto Firm To Gain Access To Federal Reserve’s Master A...
Kraken, the US’s second-largest crypto exchange, has reportedly secured access to the Federal Reserve’s (Fed) core payment systems, marking a significant milestone as the first crypto firm to operate on the same infrastructure utilized by thousands of banks and credit unions. Related Reading: South Korea To Review Seized Crypto Custody Practices After Recovery Phase Leak […]
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House of Representatives Ranking Member Maxine Waters has pressed the Federal Reserve Bank of Kansas City over its approval of a “limited purpose account” for Kraken, expressing concerns about the implications of granting a crypto firm access to the Federal Reserve’s (Fed) payment system. Related Reading: White House Clears Review Of Rule To Allow Crypto […]
The Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) have submitted rule proposals to the White House to oversee the crypto industry and prediction markets, advancing their efforts to provide clarity and regulate emerging markets. Related Reading: Kraken Becomes First Crypto Firm To Gain Access To Federal Reserve’s Master Accounts – […]
The crypto industry took a significant step deeper into the traditional financial system on Wednesday after Kraken Financial, a Wyoming-chartered digital asset bank, was granted a Federal Reserve (Fed) master account. According to one expert, Ripple may follow suit. The approval makes Kraken Financial the first crypto-focused bank in US history to gain direct access […]
A new bipartisan bill introduced on Tuesday would give many fintech and crypto payment providers a clearer path to the US payment infrastructure. The new measure, called the Payments Access and Consumer Efficiency (PACE) Act, is designed to create a national payments license that would streamline how qualified companies can access federal payment services, to make digital transfers faster and less expensive for consumers and small businesses. How The PACE Act Could Work The PACE Act, introduced by Representatives Young Kim and Sam Liccardo, is said to include a streamlined federal....
Crypto bank Custodia has lost another legal battle in its campaign to review the Federal Reserve’s position as the final authority over granting master accounts. This development comes after the US Court of Appeals for the Tenth Circuit rejected the Caitlin Long-led digital bank’s request for rehearing after an initial favorable ruling for the Federal […]