President Donald Trump has signed an executive order directing the Federal Reserve and other regulators to review how uninsured depository institutions and non-bank financial firms — including crypto companies — can gain access to US payment accounts and services. The move is being framed as a direct dismantling of the long-standing barriers that have locked crypto and fintech firms out of the traditional banking system.
On the legislative front, Senator Cynthia Lummis confirmed that the GENIUS Act and the Clarity Act are being merged with CFTC-related provisions and ethics language, with a Senate floor vote targeted for this summer. Lummis warned that failure to pass a clear regulatory framework before midterms risks ceding ground to Dubai and Singapore, which are aggressively courting crypto firms.
Perhaps the most significant signal came from White House crypto executive director…
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