The Federal Reserve plans to launch a "Lite Main Account" within the year, but the overall regulatory framework for cryptocurrencies remains unclear. Federal Reserve Board Member Waller announced that they plan to introduce a "Lite Main Account" by the end of the year to provide limited payment access for some institutions, despite slow progress in crypto market regulation. He pointed out that there are significant functional differences between traditional accounts and new accounts, and that crypto market volatility remains high, posing challenges to the current regulatory framework. Odaily Planet Daily reports that Federal Reserve Board Member Christopher Waller stated that the Fed plans to roll out the so-called "skinny master account" by the end of this year, providing limited payment system access to certain institutions amid slow progress in broader crypto market regulation rules. Waller noted at an event hosted by the Global Interdependence Center that traditional master accounts allow financial institutions direct access to the Federal Reserve's payment system, whereas the "skinny" version will have several restrictions, including non-interest-bearing balances and inability to finance through the discount window. The public consultation on the related plan has ended, and there are still disagreements between the banking industry and the crypto sector on whether non-traditional financial institutions should access the U.S. payment system. He also mentioned that as crypto market prices have retreated, the market "excitement" brought about by Trump's inauguration last year is fading. Waller stated that the volatility of crypto assets remains high, and price fluctuations are inherent features of this market. On the legislative front in Washington, the overall regulatory framework for the crypto industry still faces resistance, and progress on several related bills has been slow.