Executive Order · Donald Trump · Federal Reserve (FED) · Bitcoin Magazine
Trump Orders Fed to Review Crypto Access to U.S. Payment Rails
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President Donald Trump signed an executive order Tuesday instructing the Federal Reserve and other regulators to dismantle longstanding barriers that have excluded crypto and fintech firms from the U.S. payment system, escalating a years-long battle over access.
Key facts
- The executive order gives the Fed 120 days to deliver a formal report to the White House
- Kraken Co-CEO Arjun Sethi called the arrangement the “convergence of crypto infrastructure and sovereign financial rails
- President Donald Trump signed an executive order Tuesday instructing the Federal Reserve and other regulators to dismantle longstanding barriers that have excluded crypto and fintech firms
- The order, titled “Integrating Financial Technology Innovation into Regulatory Frameworks,” calls on the heads of federal financial agencies to audit existing rules within three months and identify
Summary
President Donald Trump signed an executive order Tuesday directing the Federal Reserve and other financial regulators to tear down barriers that have long kept crypto and fintech firms on the outside of the U.S. payment system, a move that puts the central bank at the center of a fight that has been building for years. The order, titled “Integrating Financial Technology Innovation into Regulatory Frameworks,” calls on the heads of federal financial agencies to audit existing rules within three months and identify regulations that “unduly impede” fintech firms from partnering with federally regulated institutions. Within six months, regulators must act on what they find.