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"Cryptocurrency-friendly" banks and other providers of novel financial services would have a stronger chance of securing "master accounts" if plans now under consideration at the Federal Reserve come to fruition, analysts told ACAMS moneylaundering.com. Federal Reserve Chair Jerome Powell discussed the plan with federal lawmakers on Feb. 11, testifying that the Fed's 12 regional banks could drop reputational risk as a factor when vetting applicants for master accounts, which grant direct access to the U.S. payments infrastructure and thereby empower their holders to process and settle a broad range of transactions independently. If implemented, the plan would draw new attention...