Wyoming Senator Cynthia Lummis has spoken out in support of the new proposal by Federal Reserve Governor Christopher Waller, suggesting that this initiative could end Operation Chokepoint 2.0 — a policy criticized for restricting cryptocurrency companies’ access to banking services.
At the Payment Innovation Conference in October, Mr. Waller proposed a model called “(skinny master accounts),” allowing crypto companies, fintechs, and banks to focus solely on payments and gain access to the Fed system with certain limitations.
According to Ms. Lummis, this framework will promote genuine payment innovation, enabling faster transactions, lower costs, and enhanced security. The proposal also reflects a shift in regulatory thinking in the US, as lawmakers increasingly see cryptocurrency and fintech as an integral part of the future financial landscape.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
