Trump orders review to ease crypto firms’ banking access

Trump signed an order for regulators to update rules, aiming to ease banking access for crypto and fintech firms and boost digital asset integration in the U.S.

President Donald Trump has signed an executive order directing federal agencies and the Federal Reserve to review and update regulations for better integration of digital assets and innovative financial technologies into the U.S. financial system. The order aims to streamline regulatory processes, remove unnecessary barriers for fintech and crypto firms, and foster collaboration among technology companies, banks, and regulators. Financial regulators have three months to identify rules that may hinder partnerships between federally regulated institutions and fintech companies. Within six months, agencies must take steps to encourage innovation and ensure fair access to payment systems. The Federal Reserve is specifically tasked with reassessing how non-bank financial firms and uninsured depository institutions can access payment accounts and services. This initiative responds to calls for more restrictive banking access for crypto companies and seeks to position the U.S. as a leader in financial innovation.