Trump Unveils Plan to Streamline Fintech Regulations in US

US President Donald Trump has taken steps to ease regulatory hurdles for fintech firms, signing an executive order that directs financial regulators to review and revise rules governing the industry.

The move is aimed at promoting access to the traditional banking system for non-bank financial entities, such as cryptocurrency-focused institutions. Under current regulations, these entities face significant obstacles in accessing Federal Reserve payment master accounts, which serve as a gateway to the central bank's payment infrastructure.

Regulators have been given 90 days to conduct a comprehensive review of existing guidelines, rules, and application procedures, with a focus on identifying regulatory barriers that prevent fintech firms from securing federal licenses or partnering with federally regulated institutions. Following the initial review, targeted agencies must take action on their findings within 180 days.

The executive order applies directly to major federal financial agencies, including the Securities and Exchange Commission (SEC), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).