Fed’s “Skinny” Account: Crypto’s Ticket to the Big Leagues? 🚀💸

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Fed’s Waller is like, “Hey crypto, want a seat at the cool kids’ table? Here’s a ‘skinny master account’-no full banking license needed!” 🍸✨

So, Federal Reserve Governor Chris Waller (yeah, the one who probably still thinks Bitcoin is a type of bird) just dropped a hot take at the Fed’s payments conference. Apparently, he’s all about this new “payment account” thing, which is basically a VIP pass for crypto firms to access the Fed’s payment infrastructure without having to wear a full banking license suit. Fancy, right? 💼🤓

Waller’s “Skinny” Account: Crypto’s New BFF?

During his speech, Waller was like, “Guys, I’ve got this idea-let’s call it a ‘payment account.’ It’s like a master account, but make it fashion. Fewer features, less drama, and crypto firms can finally stop crashing at the bank’s couch.” 🛋️😏

Fed’s First Innovation Conference Highlights DeFi and Crypto’s Role in Mainstream Payments

This is a new era for the Federal Reserve and payments.

The DeFi industry is no longer viewed with suspicion or scorn; today, it is welcomed into the conversation on the future of…

– Angelica Saldaña S.T.B. (@AngelofYHVH)

He’s calling it a “skinny master account” because, you know, it’s got all the essentials but none of the bloat. Direct access to Fed payment rails? Check. No need to beg banks for a plus-one? Double check. It’s like the Fed finally realized crypto isn’t just a phase. 🌈💳

No More Third-Wheeling with Banks, Says Waller

Right now, crypto firms are basically third-wheeling with banks to use Fed payment services. But Waller’s like, “Why not cut out the middleman? This new account is for the cool kids who don’t need the whole shebang.” It’s basically the Fed’s way of saying, “We see you, crypto, and we’re here to make your life easier.” 🏦👋

Companies like Ripple are already eyeing this like it’s the last slice of pizza. If this proposal goes through, they could skip the banking license drama and get straight to the good stuff. Of course, only the legally eligible ones-no sketchy players allowed. 🚫🤥

Fed Finally Catches Up to the 21st Century? Shocking.

Waller dropped a truth bomb: “Payments innovation moves fast, and the Federal Reserve needs to keep up.” Yeah, no kidding. It’s like they finally realized the world doesn’t run on checks and cash anymore. The new accounts will go through a simplified review process because, let’s be real, bureaucracy is so last decade. 📝🚀

No timeline yet, but just the fact that the Fed is even considering this is a big deal. It’s like they’re finally bridging the gap between “old money” and “new money”-and crypto’s got a front-row seat. 🌉💰

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2025-10-22 09:09