Odaily Planet Daily reports that US banking groups have strongly opposed the Federal Reserve's approval of master account status for crypto firm Kraken Financial, arguing that this could allow crypto firms to directly access the Fed's payment system without the same regulatory safeguards as traditional banks. A master account is a crucial channel for financial institutions to access the Fed's clearing and payment network. This approval means Kraken Financial can directly use the US central bank's payment infrastructure. The Bank Policy Institute expressed "deep concern," noting that the decision appears to have been made before the Fed finalized its relevant policy framework. Currently, the Fed is still studying regulatory rules for so-called "skinny master accounts," which are typically for financial institutions that do not engage in traditional deposit and loan businesses. The institute also criticized the lack of transparency in the approval process, stating that the outside world cannot understand the approval process and related risk mitigation measures. Meanwhile, some crypto industry supporters believe that this decision could open the door for more financial institutions focused on payment businesses but not engaged in traditional banking deposit and loan models, allowing them direct access to the core payment network of the US financial system.

According to Odaily Planet Daily, investment bank TD Cowen stated that while US President Trump's recent call on social media for the banking and crypto industries to reach an agreement on the CLARITY Act (Clarity for Digital Asset Markets Act) is positive, it is insufficient to break the current legislative deadlock. Jaret Seiberg, Managing Director of TD Cowen's Washington Research Department, pointed out in a report that while Trump's frequent use of social media has limited actual impact on policy progress, individual posts require direct involvement in negotiations between the banking and crypto industries to advance crypto market structure legislation. Seiberg believes that simply expressing a position through social media is unlikely to lead to a legislative breakthrough, and a real solution may require Trump to personally convene relevant parties for consultation. However, he also noted that given the current armed conflict between the US and Iran, the likelihood of Trump directly intervening in negotiations in the short term is low. Previously, Trump stated on Truth Social that the banking industry should reach a "reasonable agreement" with the crypto industry and should not oppose provisions allowing crypto platforms to offer yields to stablecoins, in order to push Congress to pass crypto market structure legislation as soon as possible. He also pointed out that the GENIUS Act, the stablecoin regulatory bill passed last year, is being "threatened and weakened" by the banking industry.

According to Odaily Planet Daily, OKX market data shows that BTC briefly dipped below 73,000 USDT, currently trading at 72,999.7 USDT, with the 24-hour gain narrowing to 6.79%. (This news item was generated with AI assistance.)

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