The U.S. Federal Reserve published guidance detailing how crypto banks can secure master account access, something several of these banks have wanted for over a year. While the guidance stops short of true transparency, potential applicants now have a roadmap of sorts they can follow, while the Fed has indicated that it is indeed open to letting crypto companies (and other novel entities) access global payments rails.
After over a year, the Federal Reserve published final guidance detailing how it will assess reserve account applications from banks, ranging from federally supervised entities with deposit insurance to novel financial institutions with state charters. That’s right, folks, we’re talking about Wyoming’s Special Purpose Depository Institutions (SPDI).
A handful of crypto companies have sought bank charters for the past few years. The reasons for doing so vary. In some cases, a federal bank or trust charter opens up the potential client list for various services. For...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...