Trump Orders Review of Crypto Firms’ Access to US Payment Systems

The United States government is preparing to review how crypto-related businesses access the country’s financial system after President Donald Trump signed a new executive order focused on digital assets and financial technology.

Trump Pushes Crypto Integration Into Traditional Finance

President Donald Trump signed an executive order directing federal regulators to update rules that may slow the integration of digital assets into traditional banking and payment systems. The order calls for a review of regulations that could be blocking fintech companies and crypto firms from working with federally regulated financial institutions.

The administration said the goal is to reduce unnecessary barriers and encourage cooperation between regulators, banks and financial technology companies.

Under the order, major financial agencies must review existing rules within three months and identify policies that may unfairly limit fintech partnerships. Regulators are then expected to recommend changes within six months to support innovation.

Federal Reserve Asked to Review Payment Access Rules

A key part of the order focuses on how crypto-focused institutions gain access to payment services through the Federal Reserve. Officials were asked to review whether uninsured depository institutions and non-bank financial firms should receive broader access to payment accounts.

The move could benefit crypto friendly institutions, including Wyoming based special purpose depository institutions such as Kraken, which previously received limited Federal Reserve payment access.

Some banking groups argue crypto firms should face the same standards as traditional financial institutions, warning that major regulatory gaps still remain.