The Federal Reserve is seeking public feedback on a proposed plan to expedite the approval process for "innovation-focused" banks aiming for national operations. This development suggests a potential pathway for crypto banks to gain easier access to master accounts, which are essential for direct access to the Federal Reserve's services. The plan focuses on creating a streamlined approach for institutions demonstrating innovative financial solutions, potentially impacting the integration of digital assets within the traditional banking system. The move indicates a significant step towards clarifying the regulatory landscape for crypto-related financial institutions.

The Federal Reserve is seeking public feedback on a proposed plan to expedite the approval process for "innovation-focused" banks aiming for national operations. This development suggests a potential pathway for crypto banks to gain easier access to master accounts, which are essential for direct access to the Federal Reserve's services. The plan focuses on creating a streamlined approach for institutions demonstrating innovative financial solutions, potentially impacting the integration of digital assets within the traditional banking system. The move indicates a significant step towards clarifying the regulatory landscape for crypto-related financial institutions.