The proposal impacts “skinny” or restricted function accounts, which permit entry to banking.
The allowing derived from the GENIUS Act establishes federal licenses for crypto corporations.
A silent however momentous battle is being waged within the corridors of American monetary coverage. It’s because the nation’s foremost banking teams requested the Federal Reserve (FED) to postpone for one 12 months the direct integration of stablecoin issuers and monetary know-how (fintech) corporations into their cost system.
The measure might delay the supply of licenses in order that cryptocurrency corporations function in a regulated method, as is predicted to occur throughout 2026.
Three of essentially the most influential organizations within the American banking sector: the Financial institution Coverage Institute (BPI), The Clearing Home Affiliation and the Monetary Providers Discussion board, introduced a joint letter to the Federal Reserve (FED) on February 6, 2026.
The letter responds to the regulator’s proposal to create “skinny grasp accounts” (skinny grasp accounts) for non-bank cost corporations. These accounts would permit transactions to be settled instantly in techniques like FedNow or Fedwire. Though they might have necessary restrictions, since they don’t pay curiosity on reserves nor would they’ve full entry to FedACH, the nationwide digital community that processes batches of credit score and debit transfers between monetary establishments.
The central argument of the banks relies on concern for the “profitable, protected and stable operation” of the brand new members.
They level to an alleged lack of supervisory expertise on the a part of the FED over many candidates. They significantly confer with stablecoin issuers which can be processing licenses below the GENIUS Regulation, the laws to manage the stablecoin sector that was signed by President Trump in July 2025, as reported by CriptoNoticias.
Banking teams now require a minimal of 12 months of confirmed efficiency earlier than crypto corporations have entry, citing potential dangers of runs or liquidity issues that would threaten monetary stability.
Safety of the banking monopoly?
From the stablecoins and fintech sector, the response was overwhelming. They think about the banks’ motion as an try and “defend their monopoly” within the cost infrastructure. This was said by Dan Spuller, govt vice chairman of the Blockchain Affiliation.
Main corporations like Circle and Anchorage Digital, a few of that are already within the technique of acquiring licenses below the GENIUS Act, argue that “skinny accounts” already impose extreme limits.
The shortage of entry to FedACH, for instance, forces them to proceed relying on banking intermediaries. Whereas every day steadiness caps or non-payment of curiosity drastically cut back the viability of your large-scale operations.
The Funds Account prototype (for entry from FED banks to non-traditional corporations) would improve the resilience of the cost system usually. As cost volumes proceed to extend, there will probably be extra stress on correspondent banking channels, which can improve the fragility of the funds system. The Funds Account prototype would assist handle this threat.
Circle in letter to the FED.
This pressure between banks and corporations within the ecosystem is a mirrored image of the challenges that persist in the USA to combine digital belongings into central cost techniques.
The situation turns into extra advanced after the promulgation of the stablecoin guidelines of the GENIUS Regulation. The FED’s last determination on these requests remains to be pending, however it’s clear that it’s going to set an important precedent for the way forward for digital finance within the nation.
