$PI
Cooling DownSnapshot Window: 2026-07-19 00:30 UTC · ← Back to Crypto Overview
Social Momentum Summary
Total Engagement - Comments: 7, Retweets: 5, Likes: 42, Impressions: 1537
Verbatim Community Citations & Social Evidence 1 source posts analyzed
THE PAYMENT SYSTEM FIGHT COULD BE A CRYPTO CATALYST Sen. Lummis is urging the Fed to finalize its “skinny” master-account proposal, calling payments infrastructure a public good. Broader access to the Fed’s rails could strengthen competition for banks, stablecoin issuers, [Spoken audio]: A proposed rule that is being considered and asked for your thoughts on the proposed rule, and it has to do with Federal Reserve Board's payment accounts. Skinny Master Accounts is kind of a term that's used. You know, my staff has told me that if a doctor submits statements to an insurance company, They have two choices, they can pay 5% in bank fees or wait 90 to 120 days for a paper check. It seems to me that the Federal Reserve is really on to something by trying to join other countries that restrict access to the payment system to consumer-facing banks. banks, we're the only major country in the world that restricts access to the payment system to the consumer-facing banks. So I think you're on the right track to expand the opportunities to serve consumers. And I'm curious about what your thoughts are about the proposal, how it's going, when you expect the rule to be finalized? Yeah, so as I understand it, this skinnier account, skinnier master account proposals out for comment, it was sent out before I arrived, but I'm keenly interested in what the comments are. My mental model is that the critical infrastructure, the rails that the Fed runs, should be available to those that are applicable, that can comply with our rules and regulations. If I were to draw a hard distinction, this is a public good, and it's a public good that should be used by intermediaries. I don't want the public good to be used by consumers, by people that are on the front lines, but if financial institutions new and old wanna comply with our regulations and take advantage of this public good, my general predilection is to encourage it.
