TLDR Tech / Fintech
Coinbase urges Federal Reserve to open payment rails to crypto firms
Coinbase is pushing the Federal Reserve to grant crypto firms direct access to US payment infrastructure through a special-purpose account that would allow non-banks to settle transactions without a full banking charter. The exchange argues that tapping systems like Fedwire and FedNow could lower costs, reduce counterparty risk, and bring the US in line with countries such as the UK and Brazil, but it opposes proposed limits on balances and the lack of interest payments, calling them commercially restrictive. With banks warning of systemic risks and regulators reviewing feedback ahead of a mid-2026 decision, the outcome could reshape how crypto platforms plug into the core of the American financial system.
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