Anchorage Digital rejects the Federal Reserve's proposed payment account as inadequate compared to direct master account access.
Regulation & Gov ·
Anchorage Digital has rejected the Federal Reserve's proposed payment account framework, arguing it does not adequately address the needs of crypto firms seeking access to central bank infrastructure. The company contends that the Fed's proposal lacks the functionality and direct access that a master account would provide, positioning the payment account as an insufficient workaround rather than a genuine solution.
The Federal Reserve has been exploring alternative pathways to grant certain cryptocurrency companies access to its payment systems without granting them direct master account status. The payment account model would operate as an intermediary arrangement, yet Anchorage Digital's pushback signals skepticism within the industry about whether such a framework can deliver the operational capabilities that firms require for seamless settlement and liquidity management.
The rejection underscores ongoing tension between crypto firms and regulators over the terms of financial infrastructure access. It remains unclear whether Anchorage Digital's position reflects broader industry sentiment or whether other crypto companies view the Fed's proposal more favorably, and whether the Federal Reserve will modify its framework in response to such feedback.