Trump Signs Order to Review Crypto Firms' Payment System Access on May 20

According to CoinDesk, President Trump signed an executive order on May 20 requiring federal financial regulators to update the regulatory framework and integrate digital assets into traditional payment systems. Financial regulators must review existing rules within three months to identify excessive restrictions on fintech collaboration.

Within six months, regulators will implement measures to promote innovation, including directing the Federal Reserve to review how non-bank financial institutions can access payment accounts and services, and whether the 12 regional Federal Reserve banks can independently authorize payment accounts.