President Trump's Executive Order Calls for Evaluation of Opening FRB Master Accounts to Cryptocurrency Firms

Directive to Evaluate Issued to the FRB

On the 19th, President Trump signed an executive order titled 'Integration into the Regulatory Framework for Fintech Innovation', requesting the Federal Reserve Board (FRB) to conduct a comprehensive evaluation on expanding the provision of FRB settlement accounts (master accounts) to fintech companies, including cryptocurrency firms. The White House released the full text as an official statement on the same day.

Master accounts enable direct connections to the core payment infrastructure of the United States...