🚨JUST IN: The @federalreserve has issued a request for comment and notices of proposed rulemaking for payment accounts, also known as the “skinny master accounts” that would allow eligible fintech and crypto firms to gain access to the Fed’s payments system for clearing and settlement purposes. It marks the next formal step in Governor Waller’s payment account implementation process, following the public comment period on the proposal itself that closed in February. Notably, the Fed is also encouraging Federal Reserve Banks to temporarily pause decisions on new “Tier 3” master account access requests until no later than December 2026 (most crypto firms are considered Tier 3) while it finalizes the framework, in an effort, it says, to create more consistency across the system.(Eleanor Terrett)