Trump orders Fed to review giving crypto firms access to master accounts
The Block
President Donald Trump signed an executive order directing the Federal Reserve to evaluate providing crypto and fintech firms access to master accounts.Summary
President Donald Trump has issued an executive order, "Integrating financial technology innovation into regulatory frameworks," requiring the Federal Reserve to conduct a comprehensive review of its policies regarding master account access. The order mandates the Fed to explore how non-bank fintech and cryptocurrency firms can integrate into traditional U.S. payment rails. This directive, which requires a report within 120 days, seeks to reduce regulatory burdens and follows recent controversies regarding limited-purpose account approvals for firms like Kraken.
(Source：The Block)