TLDR Tech / Crypto
Trump Orders Fed to Review Crypto Access to Payment Rails
President Trump signed an executive order directing the Federal Reserve and financial regulators to evaluate how crypto and fintech firms can access Fed payment accounts and services, including master accounts that allow institutions to move money directly through central bank systems like Fedwire. Agencies have three months to review existing rules that may restrict bank-fintech partnerships, and six months to take action in support of financial innovation. The order asks the Fed to report on its legal authorities to extend access, expansion options subject to risk management requirements, and any impediments blocking direct access. Kraken already secured limited Fed master account access earlier this year through its Wyoming special purpose depository institution, signaling early momentum for the broader push.
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