Trump Signs Executive Order to Boost Crypto Banking Access

A recent executive order signed by US President Donald Trump has sparked interest in the crypto community, as it paves the way for increased access to banking services for digital asset companies.

The order, which was signed on Monday, instructs federal regulators across multiple agencies to update their rules and clear the way for crypto and fintech firms to work alongside traditional financial institutions. The goal is to reduce unnecessary barriers to entry and encourage cooperation between technology-driven financial companies and federally regulated banks.

As part of the order, the Federal Reserve's Board of Governors will weigh whether uninsured depository institutions and non-bank financial companies that deal in digital assets should get direct access to Reserve Bank payment accounts and services. The Fed has 120 days to study this issue and make a decision.