A quiet but important battle is being waged on the stage over American monetary policy. The move came as the country’s major banking groups asked the Federal Reserve (FED) to postpone for a year the direct integration of stablecoin issuers and financial technology (fintech) companies into payment systems.
countermeasure License delivery may be delayed This is to ensure that cryptocurrency companies operate in a regulated manner, as is expected to happen during 2026.
Three of the most influential organizations in the U.S. banking sector, the Bank Policy Institute (BPI), the Clearinghouse Association, and the Financial Services Forum, jointly submitted a letter to the Federal Reserve System (FED) on February 6, 2026.
The letter was in response to the regulator’s proposal to create a “Thin Master Account” (skinny master account) For payment companies other than banks. These accounts will allow you to settle transactions directly With systems like FedNow and Fedwire. Not only do they not pay interest on their reserves, they do not have full access to FedACH, the national electronic network that processes a range of credit and debit transfers between financial institutions, although there are important limitations.
The bank’s main argument is based on its concern for the new participants’ “successful, safe and sound operations.”
They point to a lack of experience on the Fed’s part in supervising many applicants. These specifically refer to stablecoin issuers that are processing licenses under the GENIUS Act, the law regulating the stablecoin sector signed by President Trump in July 2025, as reported by CriptoNoticias.
The banking group currently requires a proven track record of at least 12 months before crypto companies can gain access. Mention the potential risks of bank runs and liquidity issues It could threaten financial stability.
Protection of bank monopoly?
The response from the stablecoin and fintech space was overwhelming. They see the banks’ actions as an attempt to “protect their monopoly” in payments infrastructure. This was stated by Dan Speller, Executive Vice President of the Blockchain Association.
Major companies such as Circle and Anchorage Digital, some of which are already in the process of obtaining licenses under the GENIUS Act, argue that “thin accounts” are already overly restrictive.
For example, if you don’t have access to FedACH. Forced to remain dependent on banking intermediaries. On the other hand, daily balance limits and non-payment of interest significantly reduce the viability of large-scale operations.
The Payments Account prototype (for access from FED banks to non-traditional businesses) generally strengthens the resiliency of payment systems. If payment volumes continue to increase, this could put further pressure on correspondent banking channels and increase the vulnerability of payment systems. The Payments Account prototype helps address this risk.
Please circle the letter to the FED.
This tension between banks and corporations in the ecosystem It is a reflection of the issue Efforts to integrate digital assets into central payment systems continue in the United States.
After the promulgation of the GENIUS Law Stablecoin Regulations, the scenario becomes more complex. Although the Fed’s final decision on these requests is still pending, it is clear that this sets an important precedent for the future of digital finance in the country.