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Trump Orders The Fed to Integrate Crypto with the Traditional Financial System

U.S. President Donald Trump officially signed a new executive order aimed at reducing regulatory barriers for financial technology (fintech) companies and accelerating the integration of digital assets into the traditional financial system. The policy titled "Integrating Financial Technology Innovation into Regulatory Frameworks," signed on Tuesday (5/19), instructs all federal financial regulators to audit rules, guidelines, and licensing processes that are deemed to hinder innovation or limit partnership opportunities between the fintech sector and formal financial institutions.
​The main focus of this presidential instruction is directed at expanding the use of digital assets and blockchain-based services in both the public and private sectors. Through this order, the Federal Reserve (The Fed) is specifically asked to evaluate the feasibility of non-bank financial institutions, including digital asset providers, to access central bank payment accounts (Master Accounts) and interbank clearing services directly. This move is projected to transform the operational landscape of cryptocurrencies, which have so far been required to use conventional bank intermediaries to process U.S. dollar liquidity.
​The U.S. government has set a strict deadline for regulatory agencies to submit the evaluation results of this policy to the White House. All federal financial regulators are required to identify regulatory barriers within ninety days of the executive order being signed. Meanwhile, the Federal Reserve is given one hundred twenty days to formulate findings, draft recommendations, and develop a tactical roadmap related to expanding the national payment infrastructure access scheme for non-bank entities.