US Lawmaker Presses Kansas Fed Over Kraken Exchange Master Account Approval

House Financial Services Committee ranking Democrat Rep. Maxine Waters sent a formal letter Thursday to Federal Reserve Bank of Kansas City President Jeff Schmid, demanding answers on why Kraken’s banking subsidiary was granted a Federal Reserve master account, and what that access actually means in practice. Waters set an April 10 response deadline, asking Schmid to detail which Fed services Kraken can access, what restrictions apply, and what anti-money laundering and consumer protection measures were ...