Federal Reserve Governor Christopher Waller stated that the Fed plans to launch a so-called "skinny master account" by the end of this year, providing limited access to the payment system for certain institutions amid slow progress in broader crypto market regulations. Speaking at an event hosted by the Global Interdependence Center, Waller pointed out that while traditional master accounts allow financial institutions direct access to the Fed's payment system, the "skinny" version will have several restrictions, including no interest on account balances and inability to obtain financing through the discount window. Public comment on the proposed plan has ended, and disagreements remain between the banking and crypto industries regarding whether non-traditional financial institutions should have access to the US payment system. He also noted that the market "excitement" generated by Trump's inauguration last year is fading as crypto market prices correct. Waller stated that crypto assets remain highly volatile, and price fluctuations are inherent to this market. At the legislative level in Washington, the overall regulatory framework for the crypto industry still faces obstacles, with several related bills progressing slowly.