Remove Cross-Border Settlement Remove Master Account Remove Money Laundering
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The Fed’s crypto pivot: Unlocking banking access and its impact on payments

The Payments Association

Many banks have been hesitant to engage with these businesses, citing concerns over compliance burdens, anti-money laundering (AML) obligations, and the inherent volatility of digital assets. One notable change is the removal of “reputational risk” as a consideration when evaluating applications for master accounts.