Trump ordered the U.S. federal government and the Federal Reserve to review the access of crypto companies to payment channels.

CoinFeed reported on May 20th, citing CoinDesk, that US President Trump signed an executive order requiring the federal government to update its regulatory framework to "integrate digital assets and innovative technologies into traditional financial services and payment systems." The executive order requires heads of financial regulatory agencies to review existing rules within three months, identifying "rules or documents that unduly hinder cooperation between fintech companies and federal regulators." Within six months, regulators must take steps to promote innovation, including requiring the Federal Reserve to review how to allow non-insured depository institutions and non-bank financial companies access to payment accounts and services, and whether the 12 regional Federal Reserve banks can grant payment accounts independently of the Federal Reserve Board. This provision may particularly benefit special purpose depository institutions in Wyoming.