Trump Orders Fed to Review Crypto Firms’ Access to Master Accounts
Summary
President Trump signed an executive order directing federal regulators to review rules that affect integration of digital assets and fintech with traditional financial services, including payment rails. The Fed must evaluate within 120 days whether it can legally grant non-bank digital-asset firms direct access to Reserve payment accounts; regulators have 90 days to identify regulations that impede fintech partnerships and 180 days to encourage innovation. The order raises pressure on the Fed’s discretion over master account access and could indirectly accelerate tokenization and integration of crypto firms into core U.S. financial infrastructure. The piece notes recent limited Fed moves (e.g., a Kansas City Fed limited-purpose account for Kraken) and existing OCC conditional trust-charters for several crypto companies, while emphasizing the Fed retains final authority over access decisions.
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