Trump Orders Fed to Review Crypto Access to US Payment System

US President Donald Trump has issued an executive order aimed at increasing access to the US payment system for cryptocurrency companies.

The order, titled 'Integrating Financial Technology Innovation into Regulatory Frameworks,' directs the Federal Reserve and other financial regulators to identify regulations that impede fintech firms from partnering with federally regulated institutions.

Regulators must complete this review within three months and take action on their findings within six months. The order also raises questions about the role of regional Federal Reserve banks in approving or denying master account applications.