Trump Order Pressures Fed to Open Access for Crypto Firms

A new executive order targets the Fed's Master Accounts, setting strict deadlines to integrate crypto and fintech firms into the US payment infrastructure.

The move puts significant pressure on the Fed and other banking regulators to reconsider the restrictions that have historically blocked crypto and fintech companies from direct access to central bank payments.

The executive order addresses one of the most contentious issues in the crypto sector: access to “Master Accounts.” These specialized Federal Reserve accounts allow for direct settlement through the Fedwire system, removing the need for traditional bank intermediaries.

Market participants view the initiative as a clear signal that the White House intends to lower regulatory hurdles for digital assets and stimulate competition within financial services.

The Fed Faces Strict Deadlines

The executive order establishes clear timelines for regulators, a move by the Trump administration to prevent the common practice of stalling controversial crypto applications for years.

Within 90 days, financial institutions and banking regulators must review existing restrictions regarding banking licenses and access to deposit insurance. The Federal Reserve is encouraged to implement a transparent procedure requiring a decision on any completed Master Account application within three months.

A further 120-day deadline requires the Fed to provide an official analysis on whether direct access can be extended to uninsured depository institutions and non-bank financial companies.

By the 180-day mark, federal agencies are expected to implement concrete measures supporting financial innovation and the crypto sector.

Analysts consider this the most serious attempt yet to challenge the traditional banking monopoly over the United States’ payment infrastructure.

Ripple and Crypto Banks Among Potential Winners

Crypto banks and institutions with specialized licenses, particularly those in Wyoming, stand to gain the most from these reforms. Kraken Financial has already secured limited access to a Master Account, which the industry views as the first major break in the status quo.

Investors are also closely watching companies like Ripple, Anchorage Digital, and Wise, which have advocated for direct access to Fed payment systems for years. Such a shift would drastically reduce their reliance on partner banks and accelerate transaction processing.

This development is especially critical for the stablecoin industry. Direct access to central bank settlements could reshape the competitive environment and pave the way for broader institutional adoption.

South Carolina Strengthens Crypto Protections

Alongside federal changes, South Carolina has passed bill “S.163,” which significantly expands protections for crypto users, miners, and blockchain infrastructure.

The new legislation officially guarantees the right to self-custody, with the state prohibiting restrictions on the use of self-hosted and hardware wallets. The law also bans any additional taxes on cryptocurrency payments.

Miners and node operators receive protections against discriminatory local regulations. This includes preventing bans on home mining, provided that standard noise and safety requirements are met.

Furthermore, the law takes a firm anti-CBDC stance. All South Carolina state institutions are prohibited from accepting, using, or participating in any central bank digital currency pilot programs.

The combination of federal pressure on the Fed and proactive state-level actions suggests that the US crypto regulatory environment is entering a new phase—one shifting from restriction toward integration and institutional access.