TechFlow News, May 20: According to CoinDesk, U.S. President Trump signed an executive order on Tuesday local time, directing federal agencies to update the regulatory framework to integrate digital assets and innovative technologies into traditional financial services and payment systems. The order requires financial regulators to review existing rules within three months to identify barriers hindering collaboration between fintech firms and federal regulators, and to take measures to encourage innovation within six months.
Additionally, the executive order specifically directs the Federal Reserve to review regulations governing non-bank financial institutions’ access to payment accounts and services—a move that could directly benefit Wyoming’s Special Purpose Depository Institutions (SPDIs) and companies operating under similar frameworks. Firms such as Kraken have previously actively sought access to Federal Reserve master accounts.
