The post Senator Lummis: Fed’s Skinny Master Accounts Could End Bitcoin Firm Debanking appeared on BitcoinEthereumNews.com.

Senator Cynthia Lummis endorses Federal Reserve Governor Christopher Waller’s proposal for skinny master accounts for crypto firms, which would provide limited Federal Reserve access to end debanking under Operation Chokepoint 2.0, fostering faster payments and innovation. Skinny master accounts grant restricted Fed access to crypto and fintech firms, similar to traditional banks. Lummis states the proposal halts Operation Chokepoint 2.0 debanking practices targeting crypto businesses. Over 30 tech founders reportedly affected; experts like Marc Andreessen highlight banking service blocks. Senator Cynthia Lummis supports Waller’s skinny master accounts proposal for crypto to end Operation Chokepoint 2.0 debanking. Discover impacts on fintech innovation and payments. Stay informed on crypto banking reforms today! What Are Skinny Master Accounts Proposed for Crypto Firms? Skinny master accounts refer to a limited form of Federal Reserve master accounts suggested by Governor Christopher Waller for crypto firms, fintech startups, and payment-focused banks. Waller presented this idea at the October Payments Innovation Conference, aiming to provide these entities with direct access to Fed services under strict conditions, unlike full master accounts for traditional banks. This approach addresses ongoing debanking challenges while maintaining regulatory oversight. How Does the Skinny Master Accounts Proposal Combat Operation Chokepoint 2.0? Senator Cynthia Lummis, a Wyoming Republican and prominent crypto advocate, stated that Waller’s skinny master accounts would terminate Operation Chokepoint 2.0, a perceived effort to restrict banking services for crypto companies. In her remarks, Lummis emphasized, “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.” Operation Chokepoint 2.0 has been described by industry leaders as a backchannel strategy to pressure banks into denying services to crypto firms and founders. Venture capitalist Marc Andreessen noted that…

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Filed under: News - @ December 28, 2025 1:08 am