The Federal Reserve Board recently defined new guidelines for Reserve Banks which intend to offer “master accounts” to new financial institutions. The proposal provides that access to central bank accounts and services will also be extended to all institutions that use new digital business models. The decision of the FED (in the photo President Jerome Powell) can be explained in light of the increasing number of banks offering fintech products, and must be framed in the difficult regulatory work initiated by US institutions, determined to defend private economic initiative from assaults. of speculators and the recent crypto market schizophrenia.
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