President Donald Trump signed an executive order directing federal financial regulators and the Federal Reserve to review rules affecting fintech companies and digital asset integration into U.S. payment systems. The order identifies barriers that limit competition and innovation, arguing that existing policies favor established financial firms over technology-driven newcomers.
Modernizing Financial Regulation for Digital Economy
The White House said the order aims to modernize financial regulation for the digital economy. Regulators must review guidance, supervisory practices, and application processes to identify rules that could be changed to support innovation and competition. The order also asks agencies to encourage growth among fintech firms and federally regulated institutions of all sizes, while maintaining safety and soundness standards during the review process.
Outdated regulations limit the integration of digital assets into traditional financial services, the White House noted, increasing costs and reducing market access. The directive covers both broad regulatory reviews and specific focus areas.
Fed to Review Payment Account Access
Separately, the order instructs the Federal Reserve to conduct a targeted examination of payment account access rules. The review covers uninsured depository institutions and non-bank fintech companies seeking Reserve Bank payment services. The Fed must examine its legal authority to extend access, report legal barriers that limit direct access for fintech firms, and outline possible legislative or regulatory changes. The review also includes analysis of risk management requirements tied to expanded access and current policies governing Reserve Bank payment accounts.
Continuation of Crypto-Friendly Policies
The White House linked the executive order to earlier digital asset actions. In January 2025, Trump signed an order focusing on digital asset regulatory clarity. Later, in March 2025, he signed orders establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. During the same month, he also approved measures supporting electronic government payments.
The latest order signals a shift from rhetoric to execution in the administration's push to integrate crypto into mainstream finance, though the actual impact will depend on the timeline and specifics of regulatory adjustments.