One of the most interesting news stories this week was crypto exchange Kraken getting a limited purpose account from the Federal Reserve. It's the first crypto firm to gain direct access to the US central bank's payment infra, with the ability to move money on the same rails used by banks and credit unions. It'll also have access to FedWire and can move capital in and out of the traditional banking system to crypto more easily. The limited master account is a way to give companies access to Fed payment rails, without other benefits more geared to banks. But banking lobbyists are pushing back on the move, warning it gives crypto companies access to central bank payment rails without regulatory safeguards applied to traditional banks. You can read more about this and other crypto news stories of the week in my Crypto Weekly newsletter. Link below.