The Payments Association

FEBRUARY 10, 2025

To navigate diverse vIBAN regulations, PSPs should establish a global compliance framework adaptable to local laws. The primary focus on monitoring master accounts leaves an oversight gap that can be exploited for illicit financial activities. This makes them particularly useful for firms operating and managing complex flows.

IBAN 88

IBAN AML Master Account Due Diligence 88

PYMNTS

DECEMBER 7, 2020

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. But it also signals intent to keep large swaths of the monetary system at status quo.

Stablecoins 76

Stablecoins Regulations Federal Reserve Fed 76

The Payments Association

MARCH 18, 2025

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.

Federal Reserve 88

Federal Reserve Stablecoins Fed Settlement 88

The Payments Association

JANUARY 31, 2025

’ against digital asset companies (see below, Other Key Developments in Crypto ) and the FRBs refusal to permit Custodia Bank to open a master account. Notably, US banking regulators (e.g., However, the Order does not otherwise expressly address fair access to banking services for digital asset market participants.

Stablecoins 88

Stablecoins Office of the Comptroller of the Currency Treasury Regulations 88