The Fed has published guidance for cryptocurrency banks

    The U.S. Federal Reserve (Fed) has equalized the rights of cryptocurrency banks and traditional financial institutions. Such banks will now receive "master accounts," which are required to participate in the global payment system. 

    This stipulates that digital banks will be able to make direct payments with the Fed and access federal reserves.

    There is no concept of "crypto-banks" in the Fed's definition, but there is a category called "institutions offering a new type of financial product." 

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