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The Future Of Payments Beyond The Pandemic

PYMNTS

Edwards termed real-time payments “an ACH killer … it’s moving today’s batch process of banks exchanging files with each other to a Federal Reserve centric master account to an ‘instant’ way for banks to do it.”. Cross-Border Friction — And Bitcoins And Blockchain.

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Stablecoin Outlook Anything But Stable As Regulation, Legislation Loom

PYMNTS

In terms of mechanics, these companies would have to maintain master accounts at the Federal Reserve and must maintain segregated accounts with the Fed, with reserves fully collateralized and convertible into dollars on demand. Read More On Cryptocurrency: Bitcoin Daily: India Eyes Crypto Income Tax; Ripple Unloads $15.3

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The Fed’s crypto pivot: Unlocking banking access and its impact on payments

The Payments Association

One notable change is the removal of “reputational risk” as a consideration when evaluating applications for master accounts. Federal Reserve Chair Powell confirmed that regional reserve banks will no longer take reputational factors into account when deciding whether to grant access.

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President Trump issues Executive Order on digital assets

The Payments Association

’ against digital asset companies (see below, Other Key Developments in Crypto ) and the FRBs refusal to permit Custodia Bank to open a master account. Strategic Bitcoin reserve The Working Group must also evaluate the potential creation and maintenance of a national digital asset stockpile. never happens again.