Federal Reserve's Proposal for Crypto Access to Payment Infrastructure Gains Support

The U.S. Federal Reserve has received approximately 30 comment letters regarding its proposal to grant cryptocurrency and fintech companies access to its payment infrastructure. According to NS3.AI, this initiative has garnered support from the Blockchain Payments Coalition, which includes prominent Layer 1 projects such as Solana and Sui. The coalition views this access as crucial for the development of stablecoin regulatory frameworks, including the GENIUS bill. The proposal is considered essential and overdue by industry stakeholders, highlighting the growing importance of integrating digital currencies into traditional financial systems.