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Ahmed Balaha

Maxine Waters Questions Kansas City Fed on Kraken Master Account Pilot Approved March 4, 2026

Rep. Maxine Waters sent a letter on Thursday to Kansas City Fed President Jeff Schmid seeking details on Kraken Financial's Federal Reserve master account and what services it can access. She set an April 10 deadline for explanations on Fedwire/ACH scope, restrictions, and the AML and consumer-protection reviews tied to the approval. Kraken Financial's access was granted as a one-year pilot on March 4, 2026, placing a crypto-native firm onto core payment rails.
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