US Fed considers new payment accounts to ease crypto firm access

The U.S. Federal Reserve is seeking public comment on a proposal to introduce a new type of account, known as a payment account, that would allow access to the central bank's payment network without complex requirements, CoinDesk reported. These accounts would be a scaled-down version of the Fed's master accounts. The rigorous process for obtaining a master account has historically served as a barrier to entry for some cryptocurrency firms.