Trump Orders U.S. Regulators to Support Digital Assets and Fintech Innovation

U.S. President Donald Trump signed a new executive order directing federal agencies to modernize financial regulations and promote the integration of digital assets and financial technology into the traditional banking and payment system. The move signals a stronger push toward crypto-friendly policies and fintech innovation in the United States.

The executive order instructs federal financial regulators to review existing rules over the next three months and identify regulations that may prevent fintech companies and digital asset firms from partnering with federally regulated banks and financial institutions. Trump said the U.S. government should encourage innovation, reduce unnecessary regulatory barriers, and create a more competitive financial ecosystem.

Under the order, regulators will have six months to propose measures that support innovation and improve collaboration between fintech firms, banks, and federal agencies. The directive also asks the Federal Reserve Board to review policies surrounding access to payment accounts and services for uninsured depository institutions and non-bank financial companies.

The review could particularly benefit Wyoming special purpose depository institutions (SPDIs) and crypto-focused firms seeking direct access to Federal Reserve payment systems. Earlier this year, Kraken received limited access to a Federal Reserve master account through the Kansas City Federal Reserve Bank, marking a major development for crypto banking services.

The Federal Reserve has also been exploring a formal “skinny” master account framework that could expand payment system access to eligible financial technology and crypto-related companies.

Trump signed a second executive order focused on strengthening enforcement of the Bank Secrecy Act. The order directs the Treasury Department and regulators to examine how unregistered money service businesses, peer-to-peer payment platforms, and third-party payment processors may be used to bypass reporting requirements or tax obligations.

Banking industry representatives responded cautiously to the announcement. Independent Community Bankers of America CEO Rebecca Romero Rainey warned that regulators must address regulatory gaps between banks and non-bank entities while carefully evaluating crypto-related access to Federal Reserve services.