Fed receives 30 comments on crypto access to payment network

The U.S. Federal Reserve has received approximately 30 comment letters regarding its proposal to grant cryptocurrency and fintech firms access to its payment network, The Block reported. The deadline for submissions was Feb. 6. Among the submissions was a letter from the Blockchain Payments Coalition (BPC), a consortium of major Layer 1 projects including Sui (SUI) and Solana (SOL). The BPC called the proposal an overdue but necessary measure, adding that access to the central bank's payment system is a crucial component for implementing the GENIUS stablecoin regulation bill.