Maxine Waters Seeks Clarity On Kansas City Fed’s Approval Giving This Crypto Exchange Access To ‘Critical’ Financial Infrastructure

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Rep. Maxine Waters (D-Calif.) sought further information on Thursday on the decision to grant cryptocurrency exchange Kraken access to Federal Reserve services.

Waters Says Approval Lacks Transparency

Waters, the leading Democrat on the House Committee on Financial Services, penned a letter to Jeff Schmid, President and CEO of the Federal Reserve Bank of Kansas City, requesting details about the bank’s recent approval of a “limited purpose account” for Kraken.

This approval—the first in U.S. history for a cryptocurrency company—gives Kraken direct access to Fedwire, the core payment infrastructure used by thousands of U.S. banks and credit unions.

Waters expressed her…