Trump Orders Fed to Review Crypto Firms’ Access to Master Accounts

In brief

• U.S. President Donald J. Trump signed an executive order Tuesday directing federal financial regulators to review and update rules for integrating digital assets and fintech into traditional financial services.
• Federal regulators have 90 days to identify regulations that impede fintech partnerships with federally regulated institutions, followed by 180 days to encourage innovation based on findings.
• The Federal Reserve must evaluate within 120 days whether it has legal authority to grant non-bank financial companies, including digital asset firms, direct access to Federal Reserve payment accounts.

U.S. President Donald J. Trump signed an executive order Tuesday mandating federal financial regulators to streamline rules within 90 days, potentially opening Federal Reserve payment systems to digital asset companies.

The order requires the Federal Reserve, Consumer Financial Protection Bureau, Securities and Exchange Commission, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and National Credit Union Administration to complete their regulatory reviews by mid-August.

The Federal Reserve faces the most specific mandate: submit a report within 120 days evaluating its legal authority to extend direct access to Federal Reserve payment accounts for non-bank financial companies, including digital asset firms. If existing law permits such access, the Fed must create transparent application procedures and render decisions within 90 days of receiving complete applications.

"The Federal Government must update regulations to allow integration of digital assets and innovative technology into traditional financial services and payment systems," Trump stated in the order. The directive also calls for removing "overly burdensome and fragmented regulations and supervisory practices that form barriers to entry and primarily benefit incumbent financial services firms."

Ari Redbord, Global Head of Policy and Government Affairs at blockchain analytics firm TRM Labs, called the order a “concrete step” towards putting the U.S. at the forefront of digital asset adoption. He framed digital asset dominance as an “American strategic interest,” pointing to the sector's explosive growth that has seen stablecoins achieve transaction volume of $33 trillion in 2025 and a market capitalization .