<div id="readability-page-1"><div>The U.S. Federal Reserve has officially requested public comment on a proposal to establish a new type of payment account that may allow certain crypto firms to access the Fed's clearing and settlement systems.The central bank wrote in its Wednesday statement that it has received an increasing number of requests for access to the Fed's payment services from institutions that are not federally insured.&#34;The proposed payment account would be tailored to support innovation by serving the clearing and settlement needs of certain eligible institutions while also mitigating material risks to the Reserve Banks and payment system,&#34; the statement said.Under the Federal Reserve Act, Federal Reserve banks currently have the authority to approve or deny applications for access to the Fed accounts. Qualified applicants are generally licensed depository institutions.The proposed account is &#34;substantially similar&#34; to the proposal introduced in December 2025, the Fed said. Under the proposal, account holders would have access to payment services with automated controls, but would not receive intraday credit, access to the discount window, or interest on balances held at the Fed.Still, access to the accounts, often referred to as &#34;master accounts,&#34; would enable crypto firms to connect directly to core U.S. payment rails without relying on intermediary banks.The latest proposal has made some changes to the previous version released in December, which includes increasing the maximum closing balance.Trump's executive orderThe Fed's latest request for public input follows President Donald Trump's executive order on Tuesday, which directed the central bank to review and update regulations to &#34;allow integration of digital assets and innovative technology into traditional financial services and payment systems.&#34;Trump specifically instructed the Fed to conduct a comprehensive evaluation of its regulatory framework governing access to Reserve Bank payment accounts and payment services, and to explore options for extending such access to fintech and crypto firms.As the Fed reviews the proposal to expand master account access for crypto and fintech firms, its Board said it encourages Reserve Banks to temporarily pause decisions on applications from Tier 3 institutions — a category that includes crypto firms — until the Board has completed its policy development process on the proposal.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</div></div>

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The U.S. Federal Reserve is seeking public comment on a proposal to create a new payment account for certain crypto firms, allowing them access to the Fed's clearing and settlement systems. This follows President Trump's executive order to review regulations for integrating digital assets into traditional financial services. The proposed account would enable direct connection to U.S. payment systems without intermediary banks, though it would not provide intraday credit or interest on balances. The Fed has advised a pause on applications from crypto firms until policy development is complete.

- The U.S. Federal Reserve has officially requested public comments on a proposal to establish a new payment account that may allow certain cryptocurrency firms access to its clearing and settlement system.  
- This proposal aims to support innovation and reduce significant risks to the Reserve Banks while increasing requests from uninsured institutions for access to Fed payment services.  
- The latest proposal modifies a previous one from December 2025, emphasizing direct connections for crypto companies to the U.S. core payment system without relying on intermediary banks.

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Fed seeks input on expanding master account access following Trump’s executive order