TechFlow News: On February 10, according to Decrypt, the U.S. Federal Reserve System is evaluating whether to grant limited access to payment accounts for non-bank financial institutions—a move that has sparked intense debate between fintech companies and traditional banks. Organizations such as the U.S. Fintech Council support the proposal, arguing it would foster competition and innovation in payments; meanwhile, institutions like the Bank Policy Institute warn that it could heighten financial instability—particularly in cryptocurrency-related activities resembling deposits but lacking deposit insurance, such as stablecoin issuance. This decision will significantly impact the boundaries of banks, fintech firms, and cryptocurrency enterprises within the U.S. payment ecosystem.
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