The post Sen Lummis says Fed skinny master accounts could end crypto debanking appeared on BitcoinEthereumNews.com.

Cynthia Lummis, a Republican United States Senator from Wyoming who is a strong advocate of crypto, noted that the new suggestion that Christopher Waller, an American economist serving as a Governor on the Board of Governors of the US Federal Reserve System, submitted to make “skinny” master accounts available for crypto firms would halt debanking under Operation Chokepoint 2.0.  Lummis made this statement after Waller released his new proposal to the public during the Payments Innovation Conference held in October of this year.  According to reports, the Governor claimed that this suggestion would enable crypto and fintech startups, including banks that only conduct payment activities, to obtain accounts at the Federal Reserve, just like traditional banks’ “master accounts.” However, it was confirmed that this access would involve certain restrictions. Senator Lummis sparks hope for smooth operations in the crypto ecosystem soon  Waller’s suggestion ignited heated discussions in the crypto ecosystem. To address this controversy, Senator Lummis issued a statement clarifying the proposal. In the statement, Lummis acknowledged that, “Governor Waller’s skinny master account idea ends Operation Chokepoint 2.0 and paves the way for real payment innovations. This means faster payments, lower costs, and better security — this is how we can responsibly create the future.”  Earlier, Operation Chokepoint 2.0 was perceived as a strategic approach aimed at hindering banking services, particularly for crypto firms and their founders. To support this claim, Marc Andreessen, a highly influential venture capitalist and staunch advocate for cryptocurrency and blockchain technology, asserted that more than thirty tech founders were blocked from accessing banking services in the event of this operation.  Meanwhile, reliable sources indicate that Waller’s new proposal marks a significant shift in how officials in the United States view digital assets and other emerging fintech startups. At this point, they perceive cryptocurrencies as essential aspects of the payment…

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Filed under: News - @ December 28, 2025 12:54 am