Payment Accounts Plan Puts Crypto Firms Closer to the Fed

Crypto News Regulation

'Payment Accounts' Plan Puts Crypto Firms Closer to the Federal Reserve

Written by Aaron S.,

Editor-In-Chief

Last Updated: February 10, 2026

Key Takeaways

The Fed plans to introduce new “payment accounts” for limited fintech and crypto access, and feedback review will continue through 2026;
Crypto enthusiasm weakens after Donald Trump’s win as traditional finance enters the market and adjusts exposure;
Slow progress on the crypto market structure bill in Congress creates uncertainty and reduces confidence across the industry.

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'Payment Accounts' Plan Puts Crypto Firms Closer to the Federal Reserve

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Federal Reserve governor Chris Waller said the central bank expects to introduce its planned “payment accounts” later this year.

These accounts, sometimes called “skinny master accounts", would give fintech and crypto companies limited access to the Federal Reserve system. The Fed collected public comments on the plan on February 6.

Waller noted that many crypto firms supported the idea, while banking groups were more cautious. He added that the Fed needs time to review the feedback and hopes to finalize the framework before the end of 2026.

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Waller also spoke about conditions in the crypto market. He said the excitement that followed President Donald Trump’s election win has started to ease.

According to him, the market changed after more traditional financial institutions entered the industry. He explained that these firms needed to adjust their exposure, which contributed to recent selling.

He added that this shift led some companies to reduce their risk, which affected prices.

Waller also pointed to delays in Congress as another reason enthusiasm has slowed. The crypto market structure bill has not moved forward quickly, and he said the lack of progress has created uncertainty for companies that want clear rules.

Meanwhile, the US Commodity Futures Trading Commission (CFTC) has officially canceled a proposal created under the Biden administration. What did Mike Selig say? Read the full story.