Senator Lummis stated: The Fed's 'minimalist' accounts will end the Chokepoint 2.0 Campaign.

2025-12-28 03:13:25

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Wyoming Senator Cynthia Lummis has spoken out in support of the new proposal by Federal Reserve Governor Christopher Waller, suggesting that this initiative could end Operation Chokepoint 2.0 — a policy criticized for restricting cryptocurrency companies’ access to banking services.

At the Payment Innovation Conference in October, Mr. Waller proposed a model called “(skinny master accounts),” allowing crypto companies, fintechs, and banks to focus solely on payments and gain access to the Fed system with certain limitations.

According to Ms. Lummis, this framework will promote genuine payment innovation, enabling faster transactions, lower costs, and enhanced security. The proposal also reflects a shift in regulatory thinking in the US, as lawmakers increasingly see cryptocurrency and fintech as an integral part of the future financial landscape.

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