The Bank Policy Institute, representing major U.S. banks, has criticized the Federal Reserve Bank of Kansas City's decision to grant Kraken Financial a limited-purpose master account for an initial one-year term, arguing the approval came before the Federal Reserve Board finalized its broader policy framework for such access. The account was granted under the Federal Reserve's Account Access Guidelines following a risk-based review, with the Wyoming Special Purpose Depository Institution classified as a Tier 3 entity subject to tailored restrictions. BPI questioned whether consistent standards, including anti-money laundering controls, are being applied across regional banks and warned that granting access to uninsured crypto-focused institutions could introduce additional risks to core payment and settlement infrastructure. The dispute underscores ongoing friction between traditional banks and digital asset firms over access to financial rails amid broader U.S. policy debates on crypto oversight, with Donald Trump accusing banks of obstructing digital asset reforms on March 3.