Trump Orders Fed to Review Crypto Firms' Access to U.S. Payments Infrastructure

President Donald Trump has signed an executive order instructing federal financial regulators to review and update rules that limit fintech and crypto companies' access to core U.S. financial infrastructure. At the center of the directive is a mandate for the Federal Reserve to assess whether crypto firms and other nonbank financial companies could obtain Reserve Bank payment accounts and related services, including the so-called master accounts used by banks to move funds through systems such as Fedwire. The Fed is asked to report on its legal authority to grant payment-account access to nonbank fintechs and uninsured depositories, options for expanding access with appropriate risk-management requirements, the legal barriers that currently prevent direct access and potential legislative or regulatory remedies, and the existing policies at both the Reserve Banks and the Federal Reserve Board governing account access. Industry participants view the order as the Trump administration's clearest push yet to bring digital assets and financial technology deeper into the traditional banking system. Companies including Ripple, Kraken and Anchorage Digital are widely seen as potential beneficiaries if Fed access expands. The executive order also sets timelines for broader regulatory modernization. Federal agencies must identify rules that block fintech growth and innovation within three months of the order's signing, and begin simplifying regulations and lowering entry barriers within six months. Reviews are directed to consider how to update frameworks designed for brick-and-mortar banking for a digital economy. The order argues that current rules governing payment services and third-party risk management disproportionately favor incumbent banks over newer entrants, a dynamic the administration says it intends to change. Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice. Coin Edition is not responsible for losses resulting from the use of any content, products, or services referenced. Readers should exercise caution before taking actions related to any company.