President Donald Trump signed an executive order directing federal regulators to re-evaluate rules hindering fintech and crypto access to the U.S. payment system.
The order mandates a 90-day review of regulations that prevent partnerships with traditional financial institutions. It also requires the Federal Reserve to conduct a 120-day assessment on granting non-bank firms direct access to master accounts and payment services.
Coinbase Chief Legal Officer Paul Grewal supported the move, labeling outdated payment rules as protectionism that favors incumbent banks over innovators.
This shift could reduce crypto companies' dependence on intermediary banks and streamline payment processes. The move continues the Trump administration’s pro-crypto policy direction.