After five years, Kraken has become the first crypto-native company directly connected to the Federal Reserve, able to settle transactions like a traditional bank without relying on intermediaries. Lobbying groups behind JPMorgan and Bank of America immediately fired back, criticizing the lack of transparency in the approval process and claiming crypto companies are 'free-riding.' Ripple, Circle, and others are still waiting in line—this battle has just begun. Author: @0xNancyshi