President Donald Trump signed an executive order on May 19, 2026, directing federal regulators and the Federal Reserve to review rules that restrict cryptocurrency companies from accessing the nation’s payment infrastructure. The order, first reported by CoinDesk, marks a significant policy pivot toward integrating digital assets into mainstream financial rails.
Key directives and timeline: Within three months, regulators must examine existing regulations and identify provisions that unfairly limit fintech and crypto firms from using payment accounts and services offered through the Federal Reserve system. The order specifically targets how non-insured depository institutions and non-bank financial companies can gain access. Following the review, agencies have six months to take concrete steps, including re-evaluating master account criteria historically reserved for traditional banks and credit unions.
Industry impact: The U.S. payment system—including FedNow and wire transfer services—has largely been off-limits to crypto-native firms. Many digital asset companies have struggled to secure bank partnerships, forcing reliance on a handful of crypto-friendly banks. If implemented, the order could allow stablecoin issuers, exchanges, and blockchain payment processors to connect directly to payment rails, cutting costs and reducing dependency on intermediary banks.
Regulatory context: The directive signals a more accommodating Trump-era stance, contrasting with previous enforcement-heavy approaches. However, it does not grant immediate access; it initiates a rulemaking process involving the Treasury Department, the Federal Reserve Board, and other regulators. The tight three-month review timeline suggests the administration is prioritizing the issue, though industry observers note that actual changes will depend on how agencies interpret the order and whether they pursue legislation or executive action.
The order represents a potential turning point for crypto’s integration into the U.S. financial system, with outcomes hinging on regulatory follow-through in the coming months.
