Trump Executive Order Sparks Hope for Crypto Firms' Fed Access

US President Donald Trump's executive order has sent shockwaves through the financial sector, with implications for fintech companies and traditional banks alike. The order directs the Federal Reserve to reassess its policies on granting nonbank financial firms access to payment accounts.

The move is seen as a significant step towards promoting financial innovation and reducing regulatory barriers for fintech companies. Firms such as Kraken, Ripple, Coinbase, and Circle are expected to benefit from this policy shift, which could grant them direct access to the Federal Reserve's payment infrastructure.