US Lawmaker Presses Kansas Fed Over Kraken Exchange Master Account Approval

House Financial Services Committee ranking Democrat Rep. Maxine Waters sent a formal letter Thursday to Federal Reserve Bank of Kansas City President Jeff Schmid, demanding answers on why Kraken’s banking subsidiary was granted a Federal Reserve master account, and what that access actually means in practice. Waters set an April 10 response deadline, asking Schmid to detail which Fed services Kraken can access,…