Bipartisan U.S. lawmakers advanced the PACE Act to let compliant non-bank payment institutions access Federal Reserve payment rails directly. The bill would create an Office of the Comptroller of the Currency registration pathway and require 1:1 reserves, risk controls, and record-keeping standards for access to Fedwire, FedNow, and FedACH. Industry supporters said the proposal could widen access for stablecoin and crypto payment firms.