Trump Orders Fed to Review Crypto Firms' Access to Payment Rails

According to CoinDesk, President Donald Trump signed an executive order Tuesday directing federal financial regulators to integrate digital assets and innovative technology into traditional payment systems. The order gives regulators three months to identify rules that unduly impede fintech partnerships with federally regulated institutions, and six months to encourage innovation. It also asks the Federal Reserve to review how uninsured depository institutions and non-bank financial firms access payment accounts, and whether the 12 regional Fed banks can independently grant such access — a provision that may benefit Wyoming special purpose depository institutions. The Independent Community Bankers of America warned that significant regulatory gaps remain between banks and non-bank entities.