(Cheyenne, WY) – Governor Mark Gordon is welcoming news that the Federal Reserve has announced the opening of a comment period for proposed âAccount Access Guidelines for the Reserve Banksâ, a critical step towards approval of Wyoming-chartered special purpose depository institutions (SPDIs).
SPDIs are custodial banks for digital assets that provide safekeeping and on- and off-ramps to the capital markets. Wyomingâs digital asset framework is the first comprehensive digital asset regulations in the United States.
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âTodayâs announcement is encouraging news and the culmination of an extended effort where Wyoming took the lead,â Governor Gordon said. âThis was an unprecedented task and I appreciate the collaborative work that has occurred throughout the process. Iâm committed to ensuring that Wyoming remains a national leader in the digital asset realm.â
<p><span>The Federal Reserve Board on Wednesday invited public comment on proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks ("Account Access Guidelines").</span></p>
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Federal Reserve Board invites public comment on proposed guidelines to evaluate requests for accounts and payment services
The Federal Reserve Board on Wednesday invited public comment on proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks (“Account Access Guidelines”).
Recent years have seen the introduction of new financial products and delivery mechanisms for traditional banking services, notably leveraging emerging technologies, including from institutions with novel types of banking charters designed to support such innovation. To facilitate these activities, some such institutions have requested access to the payments system offered by Federal Reserve Banks. To help achieve the goal of applying a transparent and consistent process for all access requests, as well as considering the ramifications for the broader financial system, the Board is proposing Account Access Guidelines for the Reserve Banks to eval
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The West Des Moines Chamber of Commerce hosted its first Black and Brown Business Summit last month. The organizers hope to make this an annual event where minority-owned businesses can network and learn from others.
Ricky Mathai is a tax professional who came to the United States from Kenya and now owns his own company that helps immigrant-owned businesses with their finances.
He wants to work with Latino business owners to advance his own firm, where he emphasizes empowering and educating other small business owners from racial and ethnic minority populations.
“There s no need…there s no need to be nativist. There s no need to just have corners and cliques and people groups. Let s break down the walls, it’s the 21st century. That s what our fight is today, Mathai said.
Community Development: Federal Reserve Chair Jerome H. Powell, At The 2021 Just Economy Conference Sponsored By The National Community Reinvestment Coalition, Washington, D.C. (via webcast) Date
Good afternoon. It is a pleasure to be with you today.
Together, over the past year, we have been making our way through a very difficult time. We are not out of the woods yet, but I am glad to say that we are now making real progress. While some countries are still suffering terribly in the grip of COVID-19, the economic outlook here in the United States has clearly brightened. Vaccination levels are rising. Fiscal and monetary policy are providing strong support. The economy is reopening, bringing stronger economic activity and job creation.