Big news from @federalreserve governor Chris Waller announcing a potential skinny master account to facilitate payments. By giving non-banks direct Fedwire/ACH access, Waller's proposal enables stablecoin issuers & tokenized asset platforms to settle on-chain transactions without needing a bank intermediary. This promotes innovation, widens the ecosystem of payment innovators and reduces debanking risks. Lots of details to work out, but a huge step by the Fed.

1/ Today, we are proud to join @fund_defi and 110+ other crypto companies and organizations in reaffirming what @paradigm has said unambiguously for years: Any market structure legislation must protect developers. This is non-negotiable.