The Federal Reserve plans to introduce a limited-payment account framework and will pause consideration of Tier 3 master account applications until the end of 2026.

According to Cointelegraph, the U.S. Federal Reserve has proposed establishing a limited-payment account framework, aiming to grant qualified fintech firms and crypto-related banks narrower access to the payment system. It also recommends that Federal Reserve Banks temporarily suspend decisions on Tier 3 account access applications until the rulemaking process is complete—expected no later than December 31, 2026. These accounts would be restricted solely to clearing and settlement purposes, would bear no interest, and would not provide access to central bank tools such as the discount window or intraday credit. Under the proposal, cryptocurrency exchanges would still be unable to obtain direct access to primary Federal Reserve accounts and would instead need to connect through affiliated entities that qualify as deposit institutions under the Federal Reserve Act.