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Trump Orders Fed to Review Crypto Firms’ Access to U.S. Payment Rails
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CoinEx News: U.S. President Donald Trump signed an executive order on May 19, directing federal financial regulators to review rules that may limit fintech and digital asset firms from integrating with traditional financial services and payment systems. The order asks the Federal Reserve to evaluate whether uninsured depository institutions and non-bank financial companies, including firms engaged in digital assets, can gain access to Reserve Bank payment accounts and payment services. The Fed is asked to submit findings within 120 days, including legal authority, access options, risk controls, and whether the 12 regional Federal Reserve Banks can independently approve or deny such access. The move could ease a long-running bottleneck for crypto companies that still rely heavily on partner banks for U.S. payment rails, though actual access remains subject to legal review and risk-management requirements.

Source: CoinEx

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