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The Federal Reserve is weighing whether to extend a new class of limited-access accounts — referred to as "skinny accounts" — to crypto and fintech firms, and the question of how much direct access those companies should receive is now before Congress.
Lawmakers convened to examine the risks tied to granting non-bank financial players a line into the Fed's payment infrastructure.
What a 'Skinny Account' Would Mean A Fed account, even a restricted one, would give a firm direct access to the central bank's payment rails — a privilege historically reserved for chartered depository institutions.
The "skinny" designation signals a more constrained version of that access, though the source does not specify which capabilities would be included or excluded.
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