The pulse for control of digital money

​The big banks in the U.S. have asked the Federal Reserve to close off access to cryptocurrency and fintech companies in its payment network.

According to bankers, these companies are "novices" under the new GENIUS Act, and their lack of oversight could lead to a financial crisis if they are allowed to move money at the same level as a traditional bank.

​From the crypto sector, the response is clear: they accuse the banking sector of wanting to eliminate competition to maintain their monopoly. They claim that the current barriers already suffocate them and that this blockage is just an excuse to stifle innovation and prevent users from having more modern and faster alternatives.

​In summary, we are facing a war over who dominates the payment system. The Fed must decide whether to prioritize the security of old banking or allow new technologies to integrate, while fintechs fight to avoid being permanently excluded from the official system.