Federal Reserve Board Member Waller: Plans to launch a simplified main account by the end of this year

SmartContractAuditor · 2026-02-10T00:26:16+00:00

Federal Reserve Board Member Waller stated that a simplified main account is expected to be launched by the end of the year, allowing compliant institutions to directly access the Federal Reserve payment system. Due to Congress's stagnation on cryptocurrency-related legislation, market regulatory uncertainty has increased, and the crypto industry faces volatility and disruptions.

SmartContractAuditor

2026-02-10 00:26:16

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Odaily Planet Daily News: Federal Reserve Board Member Waller stated at an event hosted by the Global Interdependence Center that the Federal Reserve plans to roll out a simplified version of the main account (Skinny Master Account) by the end of this year. This account, as a streamlined version of the Federal Reserve’s main account, will allow compliant institutions to directly access the Federal Reserve payment system. Such accounts do not support interest on balances and cannot borrow funds through the discount window.

Waller pointed out that due to the legislative stagnation of the CLARITY Act concerning the cryptocurrency market structure in Congress, market regulation remains uncertain. He mentioned that the market euphoria generated during the Trump administration is gradually fading, with Bitcoin falling from its all-time high of $126,000 last December to around $70,000. He emphasized that in the absence of a clear legal framework, the crypto industry is facing certain volatility and disruptions.

BTC-2.21%

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