Trump Orders a Review Into Banking Barriers for Fintech Firms
President Trump has ordered a review to reduce regulatory barriers preventing fintech and crypto firms from accessing Federal Reserve payment systems and banking partnerships.Summary
President Donald Trump has signed an executive order directing the Federal Reserve and federal financial regulators to evaluate and remove obstacles stifling innovation in the fintech and cryptocurrency sectors. The order specifically mandates a 120-day review of fintech and crypto firms' access to Federal Reserve payment systems to reduce reliance on intermediary banks. Additionally, regulators must examine existing policies that hinder partnerships between fintech companies and traditional institutions, while working to streamline the application process for bank and credit union charters. This initiative aims to foster financial innovation and support the integration of digital assets into the traditional U.S. financial system.
(Source：Cointelegraph)