Author: JUAN MENDE

Congresswoman Maxine Waters sent a letter on March 26, 2026, to Federal Reserve Bank of Kansas City President Jeff Schmid inquiring about Kraken Financial’s master account approval. The letter seeks details on the account’s access to Fed services, risk controls, and whether enhanced oversight was applied beyond Wyoming SPDI requirements. The approval, granted March 4 for an initial one-year term, marks the first such access for a...

Departure details: Sacks concluded his tenure on March 26, 2026, after serving the maximum 130 days as a special government employee. New position: Co-chair of the President’s Council of Advisors on Science and Technology (PCAST), expanding his advisory scope to broader technology issues including AI. Legislation status: Market-structure bill (Clarity Act) and stablecoin regulation still pending; Senate Banking Committee markup now...