Coinbase Submits Comment Letter on the Fed's New 'Payment Account' Proposal for Fintechs, Suggesting Three Improvements Including Interest Payments

Improvement Proposals for the Fed's Fintech-Focused Accounts

This week, major U.S. cryptocurrency exchange Coinbase submitted a comment letter on the Federal Reserve's (FRB) proposal to establish new 'payment accounts' aimed at cryptocurrencies and fintech companies, pointing out several shortcomings. Coinbase's Head of Policy, Farrier Silzad, announced this on the 28th.

Mr. Silzad stated that the introduction of payment accounts is an important step in modernizing the U.S. payment system...