Woofun AI reports that the U.S. House Financial Services Committee examined the Federal Reserve's proposal to grant 'skinny accounts' for direct payment system access to cryptocurrency and fintech firms. While the crypto sector endorses the initiative, community banks raised concerns regarding security protocols and uneven regulatory compliance. Congressman Dan Meuser stressed the need for careful vetting of direct access recipients, whereas Rachel Anderika of Anchorage Digital advocated for a framework supporting innovation. Conversely, Stephen Lynch highlighted risks citing the Synapse bankruptcy and Bitcoin volatility. This follows the Kansas City Fed's March approval of a limited account for Payward, parent of Kraken.