Anchorage Digital states that the Federal Reserve's proposed payment account cannot replace the traditional main account

According to The Block, Anchorage Digital stated in a comment letter that the proposed payment account by the Federal Reserve lacks FedACH access, has overnight balance restrictions, does not provide intraday liquidity, and does not pay reserve interest, making it unable to replace traditional main accounts. Anchorage Digital stated that the account is not a viable alternative to the main account held by member national banks for over a century, and pointed out that streamlining the main account should include reserve interest. Federal Reserve Governor Christopher J. Waller proposed the concept of streamlining the main account last year.