Tier 3 postponed + simplified version running in parallel, the Federal Reserve is playing a balancing act

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WuSaidBlockchainW
Wu said that, according to crypto journalist Eleanor Terrett, the Federal Reserve has issued a notice seeking public comment and proposing rules for a "Lite Main Account," aiming to allow qualified fintech and crypto companies to access the Federal Reserve payment system for payment clearing and settlement.
The move is seen as the next formal step by Federal Reserve Board member Christopher Waller to promote a payment account framework, following the public consultation on related proposals that ended in February this year.
Meanwhile, the Federal Reserve also recommended that regional Federal Reserve banks temporarily suspend decisions on new Tier 3 main account access applications, at least until December 2026, to improve system consistency before the final framework is implemented.
Most crypto companies are classified as Tier 3 institutions.
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