The post U.S. Fed proposes ‘skinny master accounts’ for crypto firms appeared on BitcoinEthereumNews.com. The U.S. Federal Reserve Governor proposed giving cryptocurrency and fintech firms direct access to the central bank’s payment rails on October 21. The proposal intends to blur the lines between crypto, fintech, and traditional banking. Speaking at the Federal Reserve’s first Payments Innovation Conference in Washington, Governor Christopher J. Waller announced the proposal of a “skinny master account,” a limited-access version of the accounts banks use to move money through the Fed’s payment rails. “This is a new era for the Federal Reserve in payments—the DeFi industry is not viewed with suspicion or scorn,” Waller said, acknowledging that distributed ledgers and crypto-assets are a part of the financial mainstream. What are “skinny master accounts”? The so-called “skinny master accounts” are essentially trimmed-down versions of conventional master accounts. In the U.S., a master account is a bank’s or financial institution’s account held directly at the Federal Reserve. These conventional accounts act as the central hub for its reserves and liquidity. Proposed accounts would offer limited access to the Fed’s payment infrastructure but come with tight restrictions. These accounts would not accrue interest, may be subject to balance limits, and would not qualify for overdrafts or access to the discount window. The streamlined structure would also speed up the review process for firms seeking access.  Waller added: “Payments innovation moves fast, and the Federal Reserve needs to keep up.”   How crypto firms could benefit For crypto-native fintechs and stablecoin issuers, this is a pivotal change. Most rely on partner banks to settle transactions through the U.S. payment rail, but that route is expensive and fragile. Direct Fed access, even in a limited form, would let blockchain-based businesses access cheaper and secure payments with the long-sought legitimacy they need. The proposal reflects a broader evolution in the Fed’s approach. Once skeptical of crypto… The post U.S. Fed proposes ‘skinny master accounts’ for crypto firms appeared on BitcoinEthereumNews.com. The U.S. Federal Reserve Governor proposed giving cryptocurrency and fintech firms direct access to the central bank’s payment rails on October 21. The proposal intends to blur the lines between crypto, fintech, and traditional banking. Speaking at the Federal Reserve’s first Payments Innovation Conference in Washington, Governor Christopher J. Waller announced the proposal of a “skinny master account,” a limited-access version of the accounts banks use to move money through the Fed’s payment rails. “This is a new era for the Federal Reserve in payments—the DeFi industry is not viewed with suspicion or scorn,” Waller said, acknowledging that distributed ledgers and crypto-assets are a part of the financial mainstream. What are “skinny master accounts”? The so-called “skinny master accounts” are essentially trimmed-down versions of conventional master accounts. In the U.S., a master account is a bank’s or financial institution’s account held directly at the Federal Reserve. These conventional accounts act as the central hub for its reserves and liquidity. Proposed accounts would offer limited access to the Fed’s payment infrastructure but come with tight restrictions. These accounts would not accrue interest, may be subject to balance limits, and would not qualify for overdrafts or access to the discount window. The streamlined structure would also speed up the review process for firms seeking access.  Waller added: “Payments innovation moves fast, and the Federal Reserve needs to keep up.”   How crypto firms could benefit For crypto-native fintechs and stablecoin issuers, this is a pivotal change. Most rely on partner banks to settle transactions through the U.S. payment rail, but that route is expensive and fragile. Direct Fed access, even in a limited form, would let blockchain-based businesses access cheaper and secure payments with the long-sought legitimacy they need. The proposal reflects a broader evolution in the Fed’s approach. Once skeptical of crypto…

        Highlights:  The BNB price is down 2% to $1111.46, despite the trading volume spiking 26%. The BNB on-chain demand has slipped, with the open interest plummeting 3% showing a drop in demand.  The technical outlook shows a tight tug-of-war, with the bulls attempting to overcome resistance zones.   The BNB price is down 2% today, to trade at $1111.46. Despite the plunge, the daily trading volume has soared 26% showing increased market activity among traders. However, BNB Chain has seen declining network activity, with the open interest plummeting, signaling a drop in demand.  On Chain Demand on BNB Cools Off The BNB Chain is in a state of cooldown of network activity, which indicates low on-chain demand. In most instances, when a network fails to ensure large volumes or revenues, it means that there is low demand or outflows to other networks.  BNB DeFi Data: DeFiLlama According to DeFiLlama data, the volume of the Decentralized Exchanges (DEXs) is down to at least $2.12 billion in comparison to the high of $6.313 billion on October 8, which also means low on-chain liquidity.  On the other hand, Coinglass data shows that the volume of BNB has grown by 3.97% to reach $4.95 billion. However, the open interest in BNB futures has dropped by 3.36% to reach $1.74 billion. This reduction in open interest is an indication of a conservative stance by investors since the number of new positions being opened is low. This could be an indication that investors are not so sure about the short-term price outlook. BNB Derivatives Data: CoinGlass Meanwhile, the long-to-short ratio is sitting at 0.9091. This shows that the traders are undecided on BNB price’s next move, as it sits below 1.  BNB Price Moves Into Consolidation The chart displays the BNB/USD price action on a 4-hour timeframe, with the token currently hovering around $1111.46. The 50-day Simple Moving Average (SMA) is at $1113, while the 200-day SMA sits at $1129, cushioning the bulls against upside movement. The price has mostly been trending below both SMAs, indicating that the bears are having the upper hand.  The BNB trading volume is up, soaring 26%, signaling the momentum is real. On the 4-hour chart, BNB is trading within a consolidation channel. In such a case, this pattern may act as an accumulation period, giving the bulls hind wings to break above resistance zones.  BNB/USD 4-hour chart: TradingView Zooming in, the Relative Strength Index (RSI) sits at 44.15, below the 50 level. This shows weakening momentum in the BNB market, and might lead to the RSI plunging to the oversold region if the bulls don’t regain control. In the short term, the BNB price could move up to $1113 resistance and flip it into support. A close above this zone will see the bulls target $1126 resistance, giving the bulls strength to reclaim the $1230 mark.  Conversely, if the resistance zones prove too strong, a dip towards $1012 could be plausible. In such a case, this could be a prime buy zone for the risk-takers. In the long term, if the token keeps the hype alive, the bulls may reclaim the $1375 high or higher.    eToro Platform    Best Crypto Exchange   Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users    9.9   Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.