ICBA sent a letter to the Federal Reserve Bank of Kansas City expressing significant unresolved concerns regarding the decision to permit a crypto-affiliated, uninsured entity lacking consolidated federal supervision to access Federal Reserve payment services. ICBA said it appreciates the KC Fed's clarification concerning the conditions imposed on Kraken Financial’s limited purpose account, but those conditions do not adequately mitigate the fundamental risks associated with the access, given recent reports concerning Kraken’s business relationships with cryptocurrency kiosk operators allegedly involved in significant scams.