Crypto Firms Support Fed’s ‘Skinny Master Account’ Proposal Amid Bank Caution

In a recent development, cryptocurrency firms have voiced their support for a proposal put forth by the Federal Reserve, which aims to provide them with restricted access to central banking facilities. This initiative, known as the ‘skinny master account,’ has garnered attention for its potential implications on the crypto sector.

Conversely, banking associations have responded with a degree of skepticism, urging for a cautious approach to this proposal. They underscore the importance of weighing the potential risks and benefits associated with allowing digital asset companies to interact with the central banking system.