Donald Trump Gives the Fed 120 Days to Open Payment Access to Crypto Firms
BeInCrypto
President Trump signed an executive order mandating regulators to streamline fintech rules and directing the Federal Reserve to review crypto firm payment access.Summary
President Donald Trump has issued an executive order requiring federal financial regulators to reduce entry barriers for fintech companies. The directive mandates a review of existing regulations that hinder bank charters and deposit insurance for these firms. Simultaneously, the Federal Reserve is instructed to evaluate providing broader payment system access to non-bank entities, including cryptocurrency companies, within 120 days. This move aims to foster innovation while maintaining safety, consumer protection, and market integrity standards.
(Source：BeInCrypto)