The U.S. Federal Reserve’s payment network for sending transfers and settling these transactions in real time is down, according to frbservices.org.
“An operational error by the Federal Reserve has resulted in service disruption across multiple lines of business,” said Richmond Fed spokesman Jim Strader. “We are restoring services and communicating with all Federal Reserve Financial Services customers about the status of operations.”
In the post on Wednesday, the central bank said it was investigating the service outage for Fedwire, FedACH and national settlement.
As a result, cryptocurrency exchanges like Gemini, Kraken and possibly Coinbase are seeing delays in transactions from Fedwire and the automatic clearinghouse (ACH).