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U.S. Representative Maxine Waters urges the Kansas City Fed to clarify the approval process for Kraken's main account.

Monetary Policy Regulation & Policy Enforcement Actions

2026-03-27 02:16:18

Gate News reports that on March 27, U.S. Representative and Chair of the House Financial Services Committee Democratic Maxine Waters sent a letter to Jeff Schmid, President of the Federal Reserve Bank of Kansas City. She requested an explanation regarding the approval of Kraken Financial's limited-purpose master account and asked for a response by April 10. In the letter, Waters requested clarification on the following: the actual scope of permissions for the approved account, the types of Federal Reserve services accessible, the applicable conditions and restrictions, and considerations related to anti-money laundering and consumer protection measures during the approval process.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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