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Deep Tide TechFlow News, March 27 — According to Cointelegraph, U.S. Representative and Democratic Chair of the House Financial Services Committee Maxine Waters sent a letter on Thursday to Jeff Schmid, President of the Federal Reserve Bank of Kansas City. The letter requests an explanation regarding the approval of Kraken Financial’s limited-purpose master account and asks for a response by April 10.
In the letter, Waters requests clarification on the following: the actual scope of authority granted to Kraken’s approved account, the types of Federal Reserve services accessible, the applicable conditions and restrictions, and considerations related to anti-money laundering and consumer protection measures during the approval process.