U.S. President Donald Trump signed a new executive order directing the Federal Reserve to evaluate whether crypto and fintech companies should receive direct access to the central banking payment system.
The Trump administration has taken a major step that could further integrate digital assets into the traditional financial system. Under the executive order titled “Integrating Financial Technology Innovation into Regulatory Frameworks,” the Federal Reserve will review policies related to granting “master accounts” to fintech and crypto firms. Such access would allow these companies to connect directly to the Fed’s core payment infrastructure.
Under the current framework, access to Federal Reserve payment systems is generally limited to licensed deposit-taking banks. As a result, Bitcoin (BTC) and other digital asset companies must rely on intermediary banks to process transactions. The Trump administration argues that existing regulations place an excessive burden on innovation and wants the framework modernized. The Fed has been instructed to submit a detailed report within 120 days.
If expanded, master account access could allow crypto exchanges and fintech firms to offer faster and lower-cost payment services without relying on traditional banking intermediaries. The executive order also seeks to clarify the authority of the 12 regional Federal Reserve banks regarding approval or rejection of such accounts. If implemented successfully, the move could make the crypto industry a much more integrated part of the U.S. financial system.
