Fed Revises Simplified Master Account Plan Aimed at Fintech and Crypto Access

According to Odaily Planet Daily, the U.S. Federal Reserve Board has issued an updated proposal for simplified master accounts, sharpening a plan designed to expand payment-channel access for fintech and crypto firms. The revision updates a request for information first released in December 2025 and contemplates a pathway for eligible companies to connect to payment rails without obtaining a national bank charter from the Office of the Comptroller of the Currency. In the same week, U.S. President Donald Trump signed two executive orders. One instructs federal regulators to review current policies to better integrate digital assets into the payment system. The other directs the U.S. Treasury Department and regulators to tighten enforcement and rules under the Bank Secrecy Act. The orders also call on the Federal Reserve to review payment account arrangements involving uninsured depository institutions, and ask Federal Reserve member banks to evaluate whether they can independently provide payment accounts to those entities. Separately, the U.S. Senate Banking Committee previously voted to advance the Clarity Act. The Senate then entered its Memorial Day recess without voting on the reconciliation bill, which included funding for the Department of Homeland Security. (CoinDesk)