On Tuesday, U.S. President Trump signed an executive order directing the Federal Reserve to evaluate whether to grant direct access to its payment systems for fintech companies, including crypto firms. The executive order, titled 'Incorporating Fintech Innovation into the Regulatory Framework,' calls on the federal government to remove policies that may be 'overly burdensome' to fintech innovation. It also instructs the Federal Reserve to submit a report within 120 days, providing a comprehensive assessment of the access rules for Reserve Bank payment accounts and services. The so-called Federal Reserve 'master account' would allow companies to bypass intermediary banks and directly access the core U.S. payment rails. Previously, Kraken's parent company, Payward, received approval in March for a 'limited-purpose account' from the Kansas City Fed, sparking opposition from the traditional banking industry. (The Block) https://(wublock123.com)/news/trump-asks-fed-review-master-account-threshold-crypto-direct-usd-access-61376