Fed moves closer to 'skinny' payment accounts for crypto banks

The government and the crypto firms are moving closer towards banking regulations. The U.S. Federal Reserve is moving forward with a proposal to create a streamlined version of its master accounts. This is a crucial banking tool long sought by crypto-focused financial institutions. The central bank announced on Dec. 19 that it will seek public comment on the plan over the next 45 days. Related: All big banks will be crypto trading soon: Former Citigroup CEO Fed introduces 'payment account' In October ...